- Successfully Marched into the Offshore Engineering Services Field - Fully Prepared for the Opportunities in the New Development Era
Hong Kong, Nov 16, 2014 - (ACN Newswire) - Hilong Holding Limited ("Hilong" or the "Company"; stock code: 1623), a leading PRC-based integrated oilfield equipment and services provider, has announced that it has signed a contract with CNOOC China Limited, a wholly-owned subsidiary of CNOOC Limited, to provide offshore pipe-laying service for the Phase II of Weizhou Project with the Company's offshore pipe-laying vessel "Hilong 106". The total contract value is US$29.83 million.
Hilong's march into offshore engineering services field represents the Company's major strategic initiative to follow the development trend of the global energy industry and actively seek new growth impetus based on its industrial advantages. Winning this contract through public tender indicates that the market highly recognized the technical specifications of "Hilong 106" as well as the qualifications and execution and management capabilities of the technical and management teams operating Hilong's offshore engineering services business. The EPC service contract covers a series of services including overall design of the construction plan, project management and offshore construction. The project focuses on building seven subsea oil pipelines linking production platforms with a total pipe-laying length of 38.5 kilometers. The preliminary work including design of detailed construction plan, preparation of equipment and materials and selection of third-party service providers will be soon launched. The offshore construction work is estimated to be launched in March 2015 and completed in July of the same year.
The award of the contract marks Hilong's successful debut in offshore engineering services field and will help "Hilong 106" obtain more high-profile contracts from the high-end customers in both domestic and international markets in the future. Moreover, this also laid a solid foundation for Hilong's future expansion into other offshore engineering service areas. Hilong is fully prepared for the opportunities in the upcoming new development era.
About Hilong Holding Limited
Hilong Holding Limited is a leading PRC-based integrated oilfield equipment manufacturer and service provider with market leadership position in the fields of drill pipes, line pipe and OCTG coatings and oilfield services. It is China's largest and the world's second largest supplier of drill pipes and OCTG coatings, and a key supplier of line pipe coating materials in China. The Group continuously expands its business horizon and marched into offshore engineering services field in 2014. Hilong follows the business philosophy of integrating products together with services and strives to become a top service provider with strong support from its high-end equipment.
Source: Hilong Holding Limited
Contact:
Strategic Financial Relations (China) Limited Ms. Nan Dong Tel (852) 2864 4811 nan.dong@sprg.com.hk Ms. Winnie Lau Tel (852) 2864 4876 winnie.lau@sprg.com.hk
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