On March 28, Zhongman Petroleum (603619) and Saudi Arabian Oil Company (Saudi Amei “) signed a drilling project contract. The contract amount is expected to be $ 120 million (about 787 million yuan). With the successful entry of Saudi Arabia’s drilling engineering market recognized by the world’s oil service industry, it has successfully entered the world’s oil service industry to achieve historic breakthroughs and become the first Chinese private drilling enterprise to cooperate with Saudi Arabia.
It is reported that the project is the first drilling project obtained by the company in the Saudi market, and it is also the first cooperation between Zhongman Petroleum and Amei. As early as 2014, in order to optimize the overseas market structure and the strategic layout of the oil service business, Zhongman Petroleum began to actively deploy more high -end markets. In 2018, the company passed the rigorous trial of Saudi Arabia and became the only Chinese private drilling company that obtained the qualification of the other party’s drilling project.
After the twists and turns of global epidemic and resumption of work, Zhongman’s overseas drilling engineering market has expanded to 9 countries including the Middle East, North Africa, Eurasia. It is understood that Saudi Arabia is the world’s largest oil and gas production company, with its business in Saudi Arabia and the world. It is mainly engaged in oil exploration, development, production, refining, transportation and sales, and has the world’s largest land oil fields and maritime oil fields. As the world’s largest petroleum giant, the company’s oil and gas resources are extremely abundant and have oil and gas reserves far beyond other international oil giants. As of 2019, Saudi Arabia has a crude oil proven reserves of 198.569 billion barrels, and natural gas proven reserves are 19.058 trillion cubic feet. The total oil and gas reserves are 2560.05 billion barrels of oil.
This article comes from the China Fund News