On August 31, 2021, Zhongman Petroleum Engineering Technology Service (Hong Kong) Co., Limited (a fully-owned subsidiary of ZPEC), and Schlumberger Middle East S.A. signed a contract worth a total of $24.5M USD (158M RMB) to perform drilling services in the Zubair Oilfield, Iraq. This good return for the company's deepening of the Iraqi market will have a positive impact on the company's business performance for 2021-2023.
Zubair Oilfield is one of the most important oilfields in the world. It is one of the few fields in the world which the crude oil daily output is above 100,000 barrels. Schlumberger Middle East S.A. is a subsidiary of Schlumberger N.V. which has branches in more than 140 countries around the world and is a global Fortune 500 company.
(Mr. Hao Donglei)