SINOPEC INTERNATIONAL PETROLEUM SERVICE CORPORATION (SIPSC) is situated at No.9 Jishikou Road, Chaoyang District, Beijing, China, and was incorporated in December 2003.
At its founding, it was a wholly-owned subsidiary specially established by China Petrochemical Corporation (Sinopec Group) to explore the overseas petroleum engineering service market. It was tasked with centrally managing, coordinating and organizing the Group’s upstream petroleum engineering teams to execute overseas petroleum engineering businesses.
In December 2012, Sinopec Group carried out professional restructuring of its petroleum engineering segment. It integrated petroleum engineering businesses, assets, personnel and affiliated engineering entities from 8 oilfield enterprises and founded Sinopec Oilfield Service Corporation (Sinopec Oilfield Services). SIPSC was fully incorporated into the newly established company.
After the restructuring, SIPSC acts on behalf of Sinopec Oilfield Service Corporation to administer all overseas petroleum engineering businesses in a unified manner.
Since its establishment, the company has rigorously implemented Sinopec Group’s "Going Global" development strategy and fully delivered its designated functions, achieving remarkable progress in overseas petroleum engineering contracting, oilfield technical services and labor cooperation.
It delivers diversified petroleum engineering service projects including drilling, well logging, mud logging, cementing, workover, geophysical prospecting and surface engineering construction, via joint ventures, technical service provision, general contracting and subcontracting modes.
Both newly signed contract value and completed contract value across the whole system have maintained rapid growth starting from 2004 up to now.
The company directly manages 25 overseas branches and offices, geographically deployed in Saudi Arabia, Kuwait, Ecuador, Mexico, Kazakhstan, Bolivia, the United Arab Emirates, Algeria, Nigeria, Myanmar and other countries and regions.
