On the morning of June 14th, the Pre EPC contract signing ceremony for the modernization upgrade project of the Bukhara Refinery in Uzbekistan was held at the company headquarters. Vice Chairman of the Board of Directors of Uzbekistan Petroleum and Natural Gas Company (referred to as Uzbek Petroleum), Temilov, Director of the Bukhara Refinery, Fakilov, Deputy Manager of the Production Department of Uzbek Petroleum, Muhedorov, Vice Chairman of the UZLITI Design Institute, Saidamedov, Deputy General Manager of Kunlun Engineering Co., Ltd., Liu Yuandan, Executive Director Li Xiaoning, General Manager Liu Zhongmin, Chief Accountant Zhou Yingqiu, Deputy General Manager Sun Shen, Deputy General Manager Zheng Yongxin, and Central Asia Coordination Group Leader Guan Songjun attended the signing ceremony. Li Xiaoning and Temilov also attended the signing ceremony. Sign the contract on behalf of both parties.

Before the signing ceremony, Li Xiaoning and Liu Zhongmin met with Temilov and his delegation, and the two sides had in-depth exchanges on the implementation and deepening of cooperation related to the modernization upgrade project of the Bukhara refinery.

Li Xiaoning welcomes the visit of Temilov and his delegation, and expresses gratitude to Urumqi Petroleum for its support and assistance to CPECC over the years. He stated that Uzbekistan Petroleum has always been one of CPECC's important strategic clients in Central Asia. With the support and assistance of Uzbekistan Petroleum, CPECC has successfully executed multiple key projects in Uzbekistan, laying a solid foundation for deepening cooperation between the two sides. The modernization and upgrading project of the Bukhara refinery is a key project highly concerned by the high-level officials of both China and Ukraine. CPECC will uphold the concept of "customer-centric", fully leverage CPECC's overall advantages and international project execution experience, and make every effort to turn this project into a high-quality project. At the same time, we adhere to the principles of mutual benefit and win-win cooperation, continuously deepen friendly exchanges and practical cooperation with Urumqi Petroleum, and strive to provide the highest quality and most efficient solutions and engineering services for Urumqi Petroleum. Temilov fully affirmed CPECC's performance and brand strength. He stated that the modernization and upgrading project of the Bukhara refinery is an important livelihood project in Uzbekistan, which has significant and far-reaching implications for the upgrading of Uzbekistan's oil and gas industry and green and low-carbon transformation, and has received high attention from the Uzbekistan government. CPECC is a trusted partner of Urumqi Petroleum. I hope CPECC can fully leverage its own advantages and build the modernization and upgrading project of Bukhara Refinery with high quality. Wushi Oil is willing to take this cooperation as the starting point and further deepen and expand cooperation areas with CPECC with a more positive, appropriate, pragmatic and efficient attitude, jointly promoting cooperation between the two sides to a new level.

The Bukhara Refinery is the only refinery under the State Oil and Gas Corporation of Uzbekistan, located in the Karaubazar District of Bukhara Oblast, Uzbekistan. The factory was put into operation in 1997, mainly using the Axens process license from France. It currently has a crude oil processing capacity of 2.5 million tons/year, and its main products are Euro II standard gasoline, aviation coal, diesel, and heavy oil. This modernization upgrade is mainly aimed at upgrading and transforming the existing processing capacity to achieve the goal of producing 1-1.1 million tons of high octane gasoline that meets the Euro V standard annually. The project mainly includes the construction of one 360000 ton/year naphtha hydrogenation treatment unit, one 380000 ton/year young naphtha isomerization unit, and one 60000 ton/year pyrolysis distillate selective hydrogenation unit. The Pre EPC contract signed this time is mainly carried out by CPECC and Kunlun Engineering to deepen the design of the patent process package, complete the accounting and renovation of public works, and finally submit the EPC stage price estimate. The heads of the Technical Department, Innovation Department, and Project Control Department of the Bukhara Refinery, as well as the finance department, material procurement department (bidding center), technical development department, market development department, bidding and quotation management department, project management department, and relevant personnel from the Uzbekistan subsidiary, participated in the above activities.