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Honghua lands $25m rig supply contract

07 Jan 2016

Honghua Group has secured a $25m drilling rig sales agreement with Kuwait Drilling Company (KDC). Honghua is one of China’s leading manufacturers of land drilling rigs and will provide KDC with one set of ultra-deep drilling rigs this year.

“The sales agreement marks the first domestically built ultra-deep drilling rig to enter the Kuwait market,” said Zhang Mi, chairman of Honghua.

This rig supply contract is one of many sales agreements currently taking place in the Middle East.

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