Industrial Product Purchasing Agreement between Southwest Oil Gas Company of SINOPEC and Jining ENI Energy Technology Co., Ltd.
Southwest Oil Gas Company of SINOPEC and Jining ENI Energy Technology Co., Ltd. entered into an agreement for the purchase of industrial products, including a content gauge, fire system information modeling, and a PT pressure transmitter. The contract, signed on December 18, 2008, in Urumchi, sets the total price at RMB 2,190,240 (including tax), with delivery required before February 18, 2009. Although ENI has not received full payment or issued an invoice, it has recognized the contract amount as income for 2008.
Exhibit 10.48
Summary Translation of Industrial Product Purchasing Agreement
Buyer: Southwest Oil Gas Company of SINOPEC
Supplier: Jining ENI Energy Technology Co., Ltd.
Contract number: GX2008-690
Signing date: 18th of December, 2008
Total sum: RMB1,872,000 (tax not included), with tax: RMB2,190,240
Signing place: Urumchi
Product: Content gauge, fire system information modeling. PT Pressure transmitter
Delivery date: Before 18th of February, 2009
ENI has not yet collected full payment or issued an invoice but has recognized this amount as income for 2008.
