Hilong Holding Limited

07/26/2021 | Press release | Distributed by Public on 07/26/2021 00:51

Hilong Signed two Drill Pipe Supply Contracts Wort...

(July 19, 2021, Shanghai) Drilling Technologies LLC , a subsidiary of Hilong Group of Companies, signed two drill pipe supply contracts with Rosneft Oil Company, to provide 4,526.3 tons of drill pipes, valued at approximately RUB 998.8 million (approximately RMB 86.9 million). Each of the Contracts has a term ending on December 31st, 2022.

Cao Yuhong, Senior Vice President and General Manager of Oilfield Equipment of Hilong Group, said: 'The signing of the two contracts is symbolic of the results achieved by Hilong toward business development in Russia, and shows the recognition of the quality of Hilong drill pipes by international customers in the petroleum industry. This augments Hilong's forte to provide drilling tool solutions and lays a solid foundation for Hilong to move towards a broader international market.'

Rosneft Oil Company is a Russian-based integrated oil and gas company focusing on exploration and appraisal of hydrocarbon fields, production of oil, gas and gas condensate, offshore field development projects, feedstock processing, sales of oil, gas and refined products.