Sinopec Oilfield Service (01033) subsidiary plans to acquire a 50% stake in Mexican company DS and a 0.01% interest in the EBANO project held by D&S company.

Zhitong Finance APP reported that Sinopec Oilfield Service Corporation (01033) announced that Mexico DS Company is a subsidiary joint venture of the company. The company's wholly-owned subsidiary Guogong Company and DIAVAZ each hold 50% equity in it, primarily operating as the operator of the EBANO project, responsible for crude oil production activities in the EBANO oilfield. According to the currently valid "EBANO Oilfield Exploration and Development Contract" (hereinafter referred to as "CEE") signed between Mexico DS Company, the Mexican National Hydrocarbons Commission (now incorporated into the Mexican Ministry of Energy), Petrleos Mexicanos (PEMEX), and D&S Company, Mexico DS Company, PEMEX, and D&S Company hold 54.99%, 45%, and 0.01% interests in the EBANO project under the CEE, respectively.