Last month, China Petroleum Engineering Construction Corporation (CPECC) - a subsidiary of PetroChina's parent China National Petroleum Corporation (CNPC) - was awarded $260 million of engineering and construction contracts for an area known as Block 6, China’s largest oil and gas producer said on its website today.
The contracts in Sudan include the expansion of a power plant and construction of two crude oil tanks with a capacity of 50,000 cubic meters each, CNPC said.
Sudan had 5 billion barrels of proven oil reserves as of January, the fifth-biggest in Africa, according to the U.S. Energy Information Administration. The majority of the reserves are located in the Muglad and Melut basins in the south. China is the country’s largest investor.
China’s oil consumption doubled in the last decade to 8 million barrels a day in 2008, according to BP Plc’s Statistical Review. It imported about 3.6 million barrels of oil a day last year, meeting about 45 percent of its needs.
Source: Report by
Bloomberg News, Friday, October 9, 2009. Copy:
PetroChina Parent Wins Engineering Contracts in Sudan (Update2) China National Petroleum Corp. said it beat 13 bidders from countries including India to win seven engineering contracts in Sudan, holder of Africa’s fifth-largest crude oil reserves.
A unit of China National Petroleum was awarded $260 million of engineering and construction contracts for an area known as Block 6 in September, China’s largest oil and gas producer said on its Web site today.
China National Petroleum, the parent of Hong Kong-listed PetroChina Co., said last month it had received a $30 billion loan to fund overseas expansion as the world’s third-largest economy stepped up its hunt for energy resources overseas. China National Petroleum led the development of the first oilfield in Sudan where President Umar al-Bashir is accused by the International Criminal Court of committing war crimes in Darfur.
“Given the good bilateral ties between China and Africa, Chinese companies have the advantage with infrastructure engineering contracts,” Wang Jing, chief oil analyst with Orient Securities Ltd., said by telephone in Shanghai.
The contracts in Sudan include the expansion of a power plant and construction of two crude oil tanks with a capacity of 50,000 cubic meters each, China National Petroleum said.
Sudan had 5 billion barrels of proven oil reserves as of January, the fifth-biggest in Africa, according to the U.S. Energy Information Administration. The majority of the reserves are located in the Muglad and Melut basins in the south. China is the country’s largest investor.
Clashes in Darfur
In western region of Darfur, clashes between pro-government forces and rebels, along with tribal fighting, banditry and disease, have killed about 300,000 people, according to United Nations estimates. The rebels took up arms against the government in 2003 accusing it of neglecting the area. The government puts the death toll at about 10,000.
China’s oil consumption doubled in the last decade to 8 million barrels a day in 2008, according to BP Plc’s Statistical Review. It imported about 3.6 million barrels of oil a day last year, meeting about 45 percent of its needs.
To contact the reporter on this story: Ying Wang in Beijing at ywang30@bloomberg.net
Last Updated: October 9, 2009 03:28 EDT
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Oct. 9, 2009 (Xinhua News Agency) --
CPECC wins seven EPC projects in SudanBEIJING, Oct. 9 (Xinhua) 锝– China Petroleum Engineering Construction Corporation (CPECC), a subsidiary of China National Petroleum Corporation (CNPC), won 260-million-dollar contract for seven Engineering Procurement and Construction (EPC) projects located in Sudan's Oil Block 6.
The seven projects include FNE flow station, Jake flow station, CPF station expansion project, power station expansion, power grid system installation, oil well development and construction of two oil storage tanks with stockpiling capacity of 50,000 cubic meters each.
It was learnt that CPECC has started design and raw material purchasing for the EPC projects.
CPECC is a major oil and gas engineering company in Sudan. It is a full-owned subsidiary of CNPC.
CNPC is the parent company (OOTC:KIDSQ) of PetroChina (PTR.NYSE, 601857.SH).
(Source: iStockAnalyst)
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Sudan oil fields map 2008
Graphic map of Sudan showing its oil fields and the international consortium involved. (AFP/Graphic/Anibal Maizcaceres/Sudan Watch archives 29 Oct 2008)
