On September 9, 2021, the Ecuadorian subsidiary of Sinopec International Petroleum Engineering Company and Ecuador’s National Petroleum Company formally signed the SASHA project drilling and completion turnkey service contract, marking the official start of the project.

In recent years, the Ecuadorian subsidiary has followed changes in the Ecuadorian oil engineering service market, focused on transformation and upgrading, and vigorously expanded the drilling and completion general contract service market in order to introduce high value-added services such as mud, logging and solidification, and cuttings reinjection. In 2016, the first TIPUTINI drilling and completion general contracting service contract in Ecuador was signed. The contract was successfully concluded in early 2019, with obvious economic and brand benefits.

Since 2020, the severe situation of the epidemic cannot stop the petrochemical oil service personnel's efforts to develop against the trend in South America and Ecuador. After many negotiations, the WAYRA drilling and completion general contract service contract was signed in August 2021; Following the trend of doubling oil production by the Ecuadorian government, it signed a US$126 million SACHA project drilling and completion general contract service contract. Up to now, the Ecuadorian subsidiary has achieved a new contract value of US$245 million. By the end of September, the start-up team will reach more than 90%.

Keywords: One Belt One Road, overseas projects, interconnection

The Ecuadorian subsidiary actively implements the Belt and Road Initiative and has made important contributions to Ecuador's economic development. In the next step, the company will continue to work hard to overcome difficulties and advance the start-up of the SACHA drilling and completion general contract service project in a steady and orderly manner. During the execution of the contract, the company will implement the commitment to the owner to "execute the project with high standards" with "strict and detailed" management. , Make new contributions to sustainable high-quality development. Editor/Tian Zengpeng