CPECC

The China Petroleum Engineering and Construction Corporation (CPECC) has already made a considerable inroad into the MENA oil and gas EPC territory, having won a contract worth over $410mn in Q4 2016 from Algerian giant Sonatrach, for the restoration of Sidi R’zine Refinery in Baraki near Algiers. However, it is believed that this is only one of the initial successes of many more to follow in the region. CPEEC’s parent company, the China National Petroleum Corporation (CNPC) has this year won a key 8% stake in Abu Dhabi’s ADCO concession, which implies that CPEEC is well-positioned to bag key EPC project work in Abu Dhabi and the wider region in the near future.