Amid volatile equity markets and an uncertain global economy, The Goldman Sachs Group Inc. ( GS - Analyst Report ) succeeded in attaining a hefty fee for a major equity deal as an underwriter, Reuters reported. The stock offering is being conducted by China Petroleum & Chemical Corp. ( SNP - Analyst Report ) , better known as Sinopec Corp.

The aforementioned equity deal worth $3.1 billion is the largest deal to be held by a single bank in Asia, excluding Japan. With the falling percentage of revenues in the equity capital market, huge underwriting and brokerage fees related to the deal will act as remuneration for Goldman.

Notably, the investment banking division of Goldman generated 64% upsurge in revenues in fourth quarter 2012, on a year-over-year basis. Results reflected higher revenues in equity and debt underwriting, reflecting an augmentation in client activity.

The total fees earned by Goldman from the offering stood at around $40 million, significantly exceeding the average fees earned by investment bankers through similar transactions in Asia. Goldman also received about $9.2 million from Sinopec as an estimated underwriting fee.

Therefore, amid regulatory issues, including lawsuits and the fundamental pressures on the banking sector, this comes as a major achievement for Goldman.

Among others, in Dec 2012, American International Group Inc ( AIG - Analyst Report ) conducted share sale in AIA Group Ltd. and paid about $16 million to each of the 5 bookrunners. However, the deal was more than double the size of the Sinopec offering.

Goldman currently retains a Zacks Rank #3 (Hold). Among peers, the companies with a Zacks Rank #1 (Strong Buy) include Evercore Partners Inc. ( EVR - Snapshot Report ) .