China Petroleum Engineering & Construction Corporation (CPECC) has submitted a low bid for the engineering and construction contract to replace part of the 600-kilometre-long Sarir-Tabruk main oil pipeline. Its offer of $21.5 million is about 7 per cent lower than the next quote of $23.1 million submitted by Athens-based Joannou & Paraskevaides (J&P - Overseas). Eight companies submitted revised commercial bids in early April to state-owned Arabian Gulf Oil Company (Agoco). The contract covers the installation of a 34-inch, 80-kilometre pipeline, launchers, slug catchers and valves. Agoco will supply the line pipe. An award is expected by mid-summer (MEED 13:1:06).