Sinopec Oilfield Service (HK:1033) has released an update.
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Sinopec Oilfield Service Corporation announces its subsidiary, SIPSC, has entered into a strategic contract worth approximately USD 137 million for the East Baghdad Oilfield CPF Project, aiming to construct crude oil processing equipment in Iraq. The project, which is scheduled for completion by September 2026, is not expected to significantly impact the company’s financials for 2024 but could positively affect revenue and profits in the following years. Investors are cautioned to consider the potential investment risks due to possible unforeseeable economic, political, or market factors.
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