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Hilong Oil Services Signs Workover Contract with BASRAH Oil Company

| 阅读(2603) Date: 2019-09-09 | Read (2603)

(September 9, 2019, Shanghai) Hilong Petroleum Technology Service Co., Ltd. (Hilong Oil Service) recently signed a workover contract with Basrah Oil Company (BOC) to provide workover as a general contractor Completion services to develop the Majnoon field in Basra, Iraq. The contract is initially three years and BOC has the right to extend it for another year. Project operations are expected to begin in mid-2020.

The board of directors of Hilong Holding Co., Ltd. believes that Iraq has good development prospects in the oilfield services business and is one of the key markets for the oilfield services business. The signing of the contract marks a major breakthrough for Hilong's oilfield services business in the Iraqi market, and reflects that Hilong's oilfield services have been accepted and recognized by major operators in the industry. The board of directors believes that the contract will lay the foundation for Hilong to further expand the international market.

BOC is a state-owned oil company in Iraq and is principally engaged in the development of oil and gas in Basra, Iraq. BOC is a partner of large oilfield development organizations such as Rumaila, Zubair, Majnoon in southern Iraq. BOC replaced Shell Iraq Petroleum Development BV's operating rights in the contract area of Iraq's Majnoon oil field.

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