Mirach Energy Limited (the Company) reported Tuesday that UniTEQ Energy Services Pte. Ltd. (UNITEQ), a wholly-owned subsidiary incorporated in Singapore, has entered into a Cooperation Agreement with CNOOC EnerTech Drilling and Production Co. (ENERTECH), a subsidiary of China National Offshore Oil Corporation (CNOOC).
ENERTECH’s business activities include drilling and completion, workover, rig-contracting, oilfield chemicals provision, downhole tools provisions, geology and reservoir studies, seismic data processing and interpretation, enhanced oil recovery and well engineering services.
The principal business of UNITEQ includes high performance drilling services, such as directional and performance drilling, well engineering and optimization services and drilling consultancy, etc. The Company is developing this business segment actively to include other services, such as, oil rig services, engineering logistics, and other related services to provide customers with a wider suite of solutions to optimize their oil discovery and production performance.
Both ENERTECH and UNITEQ agree to collaborate in securing services contracts from oil and gas field operators and fulfilling each service contract under mutually agreed terms and conditions.
None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the above investment save for their shareholdings in the Company.
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