Sinopec unit inks deal for geothermals

Sinopec Oilfield Service Corp said on May 26 that its Turkish unit signed an engineering contract with GCL ND on geothermal power projects for $84.6 million.

The contract has a term of 30 months with a value of $84.6 million, and the work volume of the contract will cover 26 geothermal wells drilling on a lump sum basis, the company said in a statement. 

Sinopec Shengli Oil Engineering Company Limited, a wholly-owned subsidiary of the Chinese company, will provide construction service under the contract, it added. 

Services under the contract cover pre-drilling, drilling, wireline logging, mud logging, cementing, mud, direction and acidification, it said. 

Materials including casing tube and its annex, drilling bit, mud and cement will be provided as well. 

Sinopec Group ranked third in the Fortune Global 500 in 2014.