China’s largest oil refiner, Sinopec Corp, has agreed to build five oil and gas rigs in Kuwait after signing a US$350 million contract with the Kuwait Oil Company (KOC).

The five-year deal is the largest the state-run company that is based in Beijing has ever won according to a statement released recently.

Sinopec is also in discussions with Kuwait Petroleum Company to construct a $9 billion refinery and petrochemical complex in the Guangdong Province of China.

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