Honghua Group wins major Mideast deal worth 1.5 billion yuan

China's Honghua Group, a leading global land drilling rig manufacturer under the Dongfang Electric Corporation, signed a contract with a large drilling company in the Middle East to deliver several sets of 3000HP artificial island cluster wells drilling rigs, with a total value of 1.5 billion yuan ($206.7 million) on July 16.

The signing of the contract underscores the global recognition of Honghua Group's high-end smart drilling rigs, solidifying its leading position in the worldwide market for high-end smart drilling rigs.

Formally known as artificial island cluster well fast-moving smart drilling rig, the giant machine to be delivered under the sales contract utilizes Honghua Group's most advanced technology, combining artificial intelligence with island cluster well drilling.

The rig adopts a design that integrates mechanical and electrical components, featuring advanced intelligence drilling technology, automated handling tools, offline processing technology, zone management system, energy storage and a power management system, as well as online monitoring technology.

Furthermore, the rig is equipped with fast-moving modules to meet the requirement of drilling multi-row cluster wells on artificial islands. This enhancement greatly improves operational efficiency, ensuring reliable and cost-effective operations with convenient mobility.

The signing of the contract marks a new development in China's intelligent equipment going global and a new achievement of high-quality Belt and Road cooperation, paving the way for further global cooperation in the oil and gas industry.