Saudi Aramco, China’s Sinopec sign $400 mln supply deal

05/11/2019 Argaam

 

Saudi Aramco has signed a $400 million supply contract with Sinopec International Petroleum Service Corporation, a wholly-owned subsidiary of China’s Sinopec Oilfield Service.

 

Under the four-year deal, Sinopec agreed to supply six unconventional gas well rigs to the Saudi oil giant.

 

Saudi Aramco and Sinopec hold 62.5 percent and 37.5 percent of Yanbu Aramco Sinopec Refining Company (YASREF), respectively.  

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