Honghua Group, an onshore drilling rig manufacturer, said that its subsidiary Honghua Golden Coast Equipment (GCE) has won a sales contract from Kuwait Drilling (KDC) of nearly $30m for land drilling rigs with certain specifications.
This contract is an additional sales contract between Honghua Golden Coast and KDC for land drilling rigs after 2016. At present, Honghua’s number of rigs in the Kuwaiti market has increased to 23 sets.
The cooperation reflects that Honghua’s products have gained great recognition from clients and the market, which will benefit the Company in expanding market share in Kuwait and consolidating the Group’s leading position in the Middle East market.
KDC is one of the largest holding companies in the oil and gas sector in Kuwait. It principally engages in drilling exploration, development and work-over businesses. Honghua began cooperation with KDC in 2008 and since then, the two companies have established long-term mutual trust and cooperation.
Honghua has always given KDC strong support in terms of service, technical support and spare parts supply.
Source: Company Press Release