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Sino-Egyptian JV to produce oil drilling rigs in Egypt |
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News Archive -
Oil, Gas & Petrochemicals-Dec News
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(Oilnews.com, Dec 28, 2006) On Dec. 26, 2006, Sichuan Honghua Petroleum Equipment Co., Ltd signed in Cairo, Egypt contracts with three Egyptian oil and gas companies. The two sides will jointly make an investment of US$15 million to form a joint venture to produce oil drilling rigs. In 2007 the joint venture will deliver three drilling rigs. Its output is expected to reach eight, ten, 15 and 20 in 2008, 2009, 2010 and 2011, respectively.
source:Oilnews.com
Drawn from Chinese language press |