Zhongman Petroleum contracts RMB688 mln Iraqi oilfield drilling project
2018-11-19 09:56

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Zhongman Petroleum and Natural Gas Group Corp. (603619.SH) signed a contract with PETRONAS Carigali Iraq Holding BV (PCIHBV) on an Iraqi oilfield drilling project worth about 99 million U.S. dollars (about 688 million yuan) on Wednesday.

According to the Shanghai-listed company's filing to the stock exchange, the contract value accounts for 38.82 percent of its audited operating income for 2017.

It has been the second Iraqi drilling project contract signed by the listed company and PCIHBV in recent years, said Zhongman Petroleum.

The signing of this contract will further deepen the company's global partnership with PETRONAS and further enhance its comprehensive capabilities in the field of drilling engineering. The contract will have a positive impact on its business performance in 2019-2021, said the listed company. 
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