Sinopec win 7 billion yuan of Kuwait oil,a major breakthrough

After more than three years,the performance of the downturn, sinopec petrochemical oil service companies, welcomed the major turning point.

On July 4, 2018, sinopec petroleum engineering technology service co., ltd. (hereinafter referred to as "sinopec oil") announced that she signed a $1.06 billion contract with Kuwait oil company (KOC) .

This contract involves 20 drilling RIGS, the contract's validity will last for 5+1 year.Petrochemical oil suit, said of the contract to further consolidate the largest onshore drilling contractor in Kuwait oil company.

$1.06 billionequal to 1.06 billion yuan, which accounts about 14.46% of revenuein for petrochemical oil under Chinese based on accounting standards in 2017.In recent years, the Chinese oil companies are rare to win overseas oil service contract was so large.

The harvest is not only show petrochemical oil uniform development back on track, but also for the domestic oil enterprises pointed out the new development direction.