Gulf Oil and Gas accountACCOUNT

Honghua Wins US$15m Land Drilling Rig Contract from KDC

Source: www.gulfoilandgas.com 3/21/2016, Location: Middle East

Share |
Honghua Golden Coast Equipment FZE, a wholly-owned subsidiary of Honghua Group Ltd., entered into a sales agreement with Kuwait Drilling Company K.S.C ("KDC") on 15 March 2016, with a total amount of approximately US$15 million (approximately HK$118 million). Pursuant to the Sales Agreement, a 7,000-meter cluster well drilling rig is expected to deliver to KDC by the end of 2016.

This newly signed drilling rig contract, following the sales agreement of a 9,000-meter ultra-deep drilling rig with KDC on 1 January 2016, marks the breakthrough of HH's cluster well drilling rig entering into Kuwait market for the first time.

Mr. Zhang Mi, Chairman of HH commented, "As the national drilling company in Kuwait, KDC has continued to purchase HH products, representing its high recognition of our producst and trust in the HH brand. The Sales Agreement marks a solid and strategic step towards enhancing the leading position of new rig sales in the Kuwait market and expanding our influence in the region. It has also laid a significant solid foundation for further in-depth cooperation with KDC and better sales achievement in the future."



Rigs >>

Rigs News in Kuwait >>

Denmark >>  11/11/2018 - Maersk Drilling has entered into an agreement to sell the jack-up rig Maersk Giant to an Australasian-based independent O&G operator. The transaction ...
Kuwait >>  11/1/2018 - ADES International Holding Ltd., a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has complet...

Oman >>  10/31/2018 - As part of its in-country value (ICV) strategy to support locally manufactured materials and maximise expenditure on goods and services made in Oman, ...
Netherlands/Holland >>  10/22/2018 - Petrogas E&P Netherlands has exercised an option with Maersk Drilling to extend the current contract of jack-up rig Maersk Resolute. The contract exte...

Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


Kuwait Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.