According to reports, SINOPEC SSC (01033) surged nearly 15% during trading, and as of publication, it was up 9.33%, priced at HKD 0.82 with a trading volume of HKD 154 million. The company recently announced that its subsidiary, CNPC, has officially signed a fixed-price contract for design, procurement, supply, construction, and commissioning of the second-phase wells and inter-well pipelines at the Ratawi oil field in Iraq with TotalEnergies. The contract is valued at RMB 2.553 billion. Industry analysis indicates that Iraq is a significant oil and gas production region in the Middle East, and the project's initiation signifies international acknowledgment of SINOPEC SSC's technological capabilities and project management in the high-end contracting sector, potentially opening up more opportunities for large-scale projects in the region. Public data shows that in the first half of 2025, SINOPEC SSC's overseas business exhibited strong growth in both orders and revenue: the value of new contracts signed in overseas markets reached RMB 19.62 billion, a substantial increase of 71.8% year-on-year, accounting for 30.8% of total new contracts during the same period, up 12.3 percentage points from the previous year; international business achieved main operational revenue of RMB 9.28 billion, a year-on-year increase of 4.3%, which raised its share of total revenue to 25.3%, becoming a central driver for mitigating fluctuations in domestic and international markets and fostering overall growth.