SINOPEC SSC (01033) Subsidiary Wins Bid for National Oil and Gas Pipeline Network Group's Yongshao Trunk Natural Gas Pipeline Western Section Construction Project

Stock News

Sep 12

SINOPEC SSC (01033) announced that its wholly-owned subsidiary, Sinopec Petroleum Engineering Construction Co., Ltd., has recently won the bid for the National Oil and Gas Pipeline Network Group Co., Ltd.'s Yongshao trunk natural gas pipeline western section engineering construction general contracting project. The winning bid amount is RMB 858 million, accounting for approximately 1.06% of the company's 2024 operating revenue under Chinese accounting standards.

The project involves a total pipeline route of approximately 120 kilometers. The project construction will play a positive role in adjusting and optimizing Zhejiang Province's energy structure, driving economic development in regions along the pipeline, and accelerating the formation of a national natural gas "unified network." This demonstrates the company's professional technical capabilities and construction management expertise in the petroleum engineering construction field.

Currently, the relevant parties have not yet formally signed the contract, and the project still involves uncertainties. Investors are advised to pay attention to investment risks.

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