HILONG Announces Securing $44 Million Drilling String Supply Contract

Stock News06-18

HILONG has announced that its wholly-owned indirect subsidiary, Hilong Petroleum Pipe Company LLC, has recently entered into a drilling string supply contract with ADNOC Drilling Company PJSC.

The contract is valued at approximately $44 million and involves supplying drilling strings for 19 onshore and offshore drilling rigs.

The board of directors believes this contract demonstrates a strategic client's confidence in the group's capabilities in drilling string design and manufacturing, supporting its goal of expanding its market presence within the region.

The contract scope includes supplying strings for extended reach drilling operations, which are among the most technically complex, located on the Upper Zakum artificial islands.

It also involves deploying the world's largest Internet of Things-enabled drilling string. The integration of IoT technology is expected to enhance real-time asset management and operational efficiency while creating potential for future artificial intelligence applications.

ADNOC Drilling is a subsidiary of the Abu Dhabi National Oil Company, specializing in providing integrated upstream services for both conventional and unconventional oil and gas fields.

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