(Yicai) Sept. 25 -- Sinopec Oilfield Service, the engineering and technical services arm of China Petroleum and Chemical Corporation, said its international business unit has secured a USD359 million contract for a crude oil well modification and expansion project at the Ratawi field in Iraq.

Sinopec International Petroleum Service will be responsible for the engineering, procurement, supply, construction, and commissioning of the project, its Beijing-based parent firm announced late yesterday, citing a deal inked with the project developer TotalEnergies EP Ratawi Hub Sas. Mechanical completion is scheduled for the end of March 2029, it added.

The project will build five new production and injection well pads, renovate and upgrade 11 existing well pads, lay 44 oil pipelines with a total length of around 140 kilometers, and install supporting fiber-optic and electrical cable facilities, Sinopec Oilfield noted.

Shares of Sinopec Oilfield [SHA: 600871] closed 1 percent lower at CNY2.05 (29 US cents) each in Shanghai today.

The company has been actively expanding its presence in the Middle East’s oil and gas services market. Last year, it secured a CNY8 billion (USD1.1 billion) contract for part of the Phase III pipeline laying of Saudi Arabia’s Master Gas System, and together with a local partner, a USD137 million contract to build new production facilities at the East Baghdad oilfield in Iraq.

Editor: Martin Kadiev