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    Novel drilling machine project of Yantai Jereh Petroleum Equipment & Technologies Co., Ltd.

    I Project name
    Novel drilling machine project of Yantai Jereh Petroleum Equipment & Technologies Co., Ltd.
    II Brief introduction to the project undertaker
    Yantai Jereh Petroleum Equipment & Technologies Co., Ltd., founded in 2004, is a pillar enterprise of equipment manufacturing backbone among the three listed backbones of Jereh Group and a new high-tech enterprise integrating research and development, production, sales and service of high-end petroleum equipment. The company mainly provides different types of large-scale oil and gas field equipment and matched technical services for domestic and overseas oil and gas field for multiple operations such as well cementation, fracturing, well completion, sand prevention, grout mixing and natural gas compression and transportation.
    III Project content and construction scale
    Novel drilling machine project of Jereh is located in Newly-developing Ecological Industrial Park of Laishan District of Yantai with total land area of 47 ha. It mainly involves construction of R&D center, machining workshop, assembly shop and supporting facilities, and its total building area is 325000 m2. After the project reaches the design capacity, its annual output includes 5 hydraulic drilling rigs, 50 quick-moved drilling machine and 5 super single rigs, and it will need 2104 workers.
    IV Construction conditions of the project
    Works such as land expropriation and transfer for this project have been done currently, and  26667 square meters of land has been delisted. The first-stage plate-work shop has been capped, and nearly 150 million Yuan have been invested.
    V Total investment of the project
    376 million U. S. dollars
    VI Market and economic benefit analysis and forecast
    After the project is put into full production, its annual sales can be increased by 2.63 billion Yuan, with 669 million Yuan of profit.
    VII Ways of cooperation
    Joint venture, cooperative operation
    VIII Contact information
    Person to contact: Wang Pixue

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