Product Supply Contract 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 a contract in November 2008 for the supply of temperature transmission, pressure transmission, and Annubar products related to the Chuan East to Chuan West Transferring Gas Pipe Project. The total contract value is RMB969,500. Although ENI has recognized the income for 2008, full payment has not yet been received and no invoice has been issued. The contract was signed in Chengdu, Sichuan province.
Exhibit 10.50
Summary Translation of Chuan East to Chuan West
Transferring Gas Pipe Project Product Collective Contract
Contract number: G11CQ-08-MM-0010
Signing date: November 2008
Buyer: Southwest Oil Gas Company of SINOPEC
Supplier: Jining ENI Energy Technology Co., Ltd.
Signing place: Chengdu city of Sichuan province
Total sum: RMB969,500
Product: Temperature transmission, pressure transmission and Annubar
ENI has not yet collected full payment or issued an invoice but has recognized this amount as income for 2008.
