BEIJING, Aug. 25 (Xinhua) -- China Oil HBP Group has received a letter of acceptance from PETRONAS Carigali Iraq Holding B.V. (PCIHBV) on August 24, confirming the winning of the bid for the inter-well crude oil gathering and transportation EPCC project (phase III) in Garraf Oil Field, Iraq.
The contract for the project is valued at 59.481 million U.S. dollars (about 400 million yuan), accounting for 38 percent of the company's audited business revenues in 2016.
The company stated that the winning of the bid was significant to the development of its international EPC business as it was the first time for HBP to participate in a project run by major international petroleum companies. (Edited by Tong Wei,kateqiyang@xinhua.org)
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