Wang Bo Conducts Business Activities in Iraq
Recently, Wang Bo, Party secretary and chairman of China Machinery Engineering Group Corporation (CMEC Group), conducted business activities in Iraq. Together with Xu Xinwei, deputy general manager of China Export & Credit Insurance Corporation (CECIC), he paid a visit to Iraqi Deputy Prime Minister and Oil Minister and inspected Iraq Block-9 Oil & Gas Central Processing Facility Project (the “project”) contracted by China CAMC Engineering Co., Ltd. (CAMCE), member of CMEC Group. At the project site, Mr. Wang Bo extended his greetings to the representatives of the project department and construction companies. During his stay in Iraq, Wang also paid a visit to Cui Wei, Ambassador Extraordinary and Plenipotentiary of China to Iraq at the embassy.
Chairman Wang Bo, on behalf of CMEC Group, thanked Iraqi Deputy Prime Minister and Oil Minister Hayyan Abdul-Ghani for attending the 100,000-barrel capacity ceremony at the project site at the end of July and introduced the comprehensive advantages of CAMCE, CMEC Group and SINOMACH. He said that CMEC Group has attached great importance to oil & gas cooperation and would give full play to the overall edge of one-stop services in design, consulting, engineering and contracting throughout the entire industry chain. Supported by CECIC, CMEC Group will help Iraq achieve the high-quality development of the oil & gas industry, economic development and people’s wellbeing.
Deputy Prime Minister Hayyan Abdul-Ghani noted that CAMCE had completed the high-quality project within the shortest construction period, reached the production capacity of oil plant package and created an excellent brand image in the Iraqi market. With abundant oil & gas resources, Iraq is ready for more cooperation and exchanges with CAMCE on oil & gas projects to facilitate Iraq’s economic and social development.
At the project site, Mr. Wang Bo accompanied CECIC’s working group on an inspection tour of the project control centre, the core area of the oil treatment plant and the drilling rig facilities in operation, and presented the highlights of the project development, construction and management. Wang introduced that the oil plant package has been put into production ahead of schedule, setting a record of the shortest construction period of Iraq’s similar projects. The project has enabled SINOMACH’s subsidiaries to go global and collaborate with each other, offering an overseas opportunity and platform for SINOMACH’s equipment and China’s oil & gas equipment. The subsidiaries include Lanpec Technologies Limited, China Machinery Engineering & Construction Corporation (CMMEC), Hefei General Machinery Research Institute Co., Ltd., Shenyang Academy of Instrumentation Science Co., Ltd. and China CACS Engineering Corporation. Mr. Wang’s thanks went to CECIC for underwriting the project and the project owner United Energy Group for its trust and support. He said that CMEC Group will make good use of SINOMACH’s strong industrial resources and capabilities for facilitating industrialised development, further cooperation with leading oil & gas enterprises, and do a good job in general contracting and EPC plus services, so as to contribute to implementing the national energy security strategy.
DGM Xu Xinwei fully recognised CAMCE’s outstanding achievements in the project. He said that it is the first oilfield ground facility project of Basra Oil Company (BOC), which is being built entirely by Chinese companies. It is of great significance to improve Iraq’s crude oil production capacity and contribute to its economic and social development. The project has introduced Chinese equipment, technologies and engineering experience into Iraq’s oil & gas sector, which is significant to the China-Iraq cooperation in this field. CECIC will continue to bring into full play the policy-based credit insurance function of risk prevention, market expansion and financing support, keep track of customer demand, and improve the quality of customer services. It will also explore new models of underwriting business in the oil & gas resources industry and safeguard national energy security with more high-quality overseas oil & gas projects.
In the meeting room of the project site, CMEC Group and CECIC’s working group held a financing symposium for more exchanges on key tracked projects as well as insured and post-insurance ones of CMEC and CAMCE.
Also attending the above activities were Zheng Zhongping, general manager of CECIC’s Strategic Client Department One, Ren Ge, chief representative of Dubai Office, Wang Shu, assistant general manager of the Business Management Department, and heads of the Project Insurance Underwriting Department.
At the project site, Mr. Wang Bo also visited the representatives of the project staff and construction enterprises, extending sincere greetings and high esteem to the value creators who have long performed their duties devoted themselves to the project under hard conditions.
During his stay in Iraq, Wang paid a visit to Cui Wei, Ambassador Extraordinary and Plenipotentiary of China to Iraq at the embassy, where he reported the business development of CMEC and CAMCE in Iraq and listened to the embassy’s introduction and guidance on the local situation.
Also present at the above activities were Liu Shengcheng, member of the Party committee and deputy general manager of CAMCE, Yang Chuanliang, deputy general manager of China IPPR International Engineering Co., Ltd., Yang Zhigang, general manager of CAMCE’s No.6 Engineering Division, and heads of CAMCE’s Finance Department.
