Chinese company wins bid for RMB3.8 bln oil pipeline project in Saudi Arabia

BEIJING, July 19 (Xinhua) -- China Petroleum Engineering Corporation (600339.SH) recently announced that its subsidiary China Petroleum Pipeline Engineering Co., Ltd. has received a letter of intent from Saudi Arabian Oil Company for the awarding of the pipeline project for compressor stations of Haradh and north Hawiyah.
According to the announcement, the project includes upgrading of 476 single wells of Harald oilfield, construction of 182 new pipes (8 inches to 36 inches) with a total length of 844 kilometers, construction of new and upgrading 190 primary manifolds stations and other facilities.
The project is a procurement construction (PC) contract with a planned work duration of 38 months and an amount of 2,158 million Saudi riyal (about 3.8 billion yuan).