Petro-king Secures $24.3M Technical Service Deal from China's Xi'an Katwell

Petro-king Oilfield Services Limited (Petro-king or the Company which, together with its subsidiaries, is referred to as the Group), a leading independent China-based high-end oilfield services provider, announced Thursday that it entered into a technical service agreement for the provision of directional drilling services, measurements while drilling, logging while drilling and borehole tools and services July 22, which is expected to generate additional revenue for the Group.

The agreement was entered into between Petro-king Oilfield Technology Limited, the Company’s wholly-owned subsidiary, and Xi’an Katwell Energy Technology Co., Ltd., an energy technology company based in China. The estimated contract sum is approximately $24.3 million (CNY 151.1 million or approximately HKD 188.9 million), with a guaranteed contract sum of not less than $14.23 million (CNY 88.4 million or approximately HKD 110.5 million). The services will be provided in five years’ time from the date of the agreement.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
 Company: Petro-king Oilfield Services Ltd.more info
 - Petro-king Secures $24.3M Technical Service Deal from China's Xi'an Katwell (Jul 24)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
CDL Class A Driver
Expertise: Motorman|Truck / HGV Driver
Location: Midland, TX
 
Rig Mechanic Senior
Expertise: Rig Mechanic|Rig Welder
Location: Beggs, OK
 
Plug and Abandonment Rigger-Offshore
Expertise: Rig Instrument Tech
Location: Houma, LA
 
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours