SINOPEC SSC(01033.HK): Wholly-owned Subsidiary Wins RMB1.772 Billion Natural Gas Pipeline Project
NewTimeSpace News: Sinopec Oilfield Service Corporation (01033.HK) announced that Sinopec Oil Engineering and Construction Corporation, its wholly-owned subsidiary, has won the bid for Section I of the general construction contracting project of Heihe-Daqing and Daqing-Changling Natural Gas Pipelines, with a bid amount of RMB1.772 billion, accounting for approximately 2.2% of the Company’s operating revenue in 2025.
NewTimeSpace News: Sinopec Oilfield Service Corporation issued a bid-winning announcement dated 7 July 2026, disclosing that its wholly-owned subsidiary Sinopec Oil Engineering and Construction Corporation was awarded Section I of the general construction contracting project for the Heihe-Daqing and Daqing-Changling Natural Gas Pipelines.
As stated in the announcement, the bid value totals RMB1.772 billion, equivalent to around 2.2% of the Company’s 2025 operating revenue prepared under PRC Accounting Standards. The Company will mainly undertake construction of a natural gas pipeline stretching roughly 279 kilometres, with a construction period of 710 days.
The Company remarked that winning this project demonstrates its robust brand strength in long-distance pipeline construction. Formal contracts have not yet been executed by relevant parties, and uncertainties remain regarding the project implementation.
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