On November26, Mr. Jia Yiqun, CFO of SEG, met with Mr. Craig Muir, CBO of PetrofacInternational Ltd, at Sharjah, the UAE.

Both sideshad a self-introduction of their companies. During the meeting, Jia got apicture of the equity structure, experience, market development strategy and projectoperation and control modes of Petrofac, and shared his ideas with Mr. Craig onpotential project cooperation between the two sides. Mr. Craig, taking theexample of the two projects currently under cooperation with SEG, said that it’squite important for a project service provider to seek cooperation withcompetitors based on complementary advantages for obtaining objects at a highlycompetitive market. He also recognized SEG’s advantages in refining &chemical businesses, patent packages and construction management, whilementioning Petrofec’s strength in the Middle East market and advantages inprocurement, design cost and digital application. The two sides agreed toexpand strategic cooperation in construction and seek cooperation onlarge-scale refining & chemical EPC projects in the Middle East.