Shengli Petroleum Engineering ( a subsidiary of the Sinopec group)has won a $50 million contract to drill an offshore block in Nigeria. The project is expected to commence in 2018.
Sinopec Petroleum Engineering Design Co., Ltd. (referred to as the petroleum engineering design, the former Shengli Oilfield Investigation and Design Institute), was founded in 1965, was founded in 1972, is a focus on the development and construction of petroleum engineering enterprises. The company is headquartered in the beautiful city- Dongying City,
Sinopec Corp. acquired the oil production assets of Shengli Petroleum Administration Bureau from Sinopec Group on the 31st of December 2006. Sinopec was established as a joint stock entity under the China Petroleum and Chemical Corporation in February 2000. The company was simultaneously listed on the London, New York and Hong Kong stock exchanges in October 2000.
A rebound in crude oil prices and relative calm in the Niger Delta region, has encouraged the resumption in oil exploration.