END USER:CNOOC IRAQ LIMITED

DESCRIPTION:lnternal Primed FBE & External 3LPP Coating Application for Pipeline

DESCRIPTION:Custom Coating: Internal Primed FBE & External PP Heat Shrinkable Tape Coating Application for Bends

BACKGROUND AND MIAN INTERNAL FLOW MEDIUMSITUATION:

CNOOC Iraq Limited, a company existing under the laws of British Virgin Islands, acting as lead contractor of the Technical Service Contract for Missan Oil Fields entered into by and between Missan Oil Company.

SOL or “Sarulla Operations Limited” is the operation company established by the Consortium of Itochu Corporation, Kyushu Electric Power Co., Inc., Ormat International, Inc. and PT. Medco Energi International Tbk. SOL plans to develop the Geothermal Field and the power plant in Sarulla, in Pahae Jae and Pahae Julu Districts, North Tapanuli Regency, North Sumatera Province.On May 17th 2010, CNOOC Limited (CNOOC Ltd.) announced that the company, via its wholly owned subsidiary company, CNOOC International Limited, together with Turkiye Petrolleri Anonim Ortakligi (TPAO), signed a Technical Service Contract (TSC) for the development and production of the Missan Oil Fields within Iraq.

According to the TSC, CNOOC Ltd. acts as the operator and holds 63.75% participating interest while TPAO holds 11.25%. Iraqi Drilling Company, a local Iraqi company, holds the remaining 25% in the project. And CNOOC Ltd. will undertake to increase the oil daily production of the Missan Oil Fields to 450,000 barrels within six years.

CNOOC Ltd. will earn US$ 2.3 per barrel on the incremental oil production once the oil daily production rises 10% from its current level and will recover its expenditure through a cost recovery mechanism.

In the end of YEAR 2018, TYHOO was issued the coating application order by TPCO and TPCO started delivering the barepipes to our coating plant in the end of March, 2019, by Sep. 10th, 2019, through out the whole team endeavour, TYHOOhad completed the internal & external pipeline coating application and timely delivery for whole order quantity to attainCNOOC Iraq Company's top urgent delivery requirement which has obtained customer's high recognition and appreciation.