Recon Technology has received approximately $1.2 million in four new equipment and chemical orders from China National Petroleum Corporation (CNPC).
Recon received an RMB 1,493,973 (approximately $219,000 USD) order from the CNPC Changqing Sulige Gas Field in Inner Mongolia. This includes various gas and oil field chemicals, such as gas well cleanup additive, clay stabilizer, crosslinking agent, foaming agent and bactericides. The company secured this order based on the superior quality of these chemical products that enhance both gas and oil field extraction and productivity.
Recon also received an RMB 2,276,000 (approximately $333,000 USD) order from CNPC Tuha Oilfield in China's Xinjiang Uygur Autonomous Region and an RMB 1,731,600 (approximately $254,000 USD) order from the CNPC for the First Extraction Plant of Huabei Oilfield in Hebei Province. Crude petroleum from these fields contains impurities including water and natural gas that must be removed before the petroleum can be sold. These two orders include Recon's patented oil field furnaces that remove impurities and prevent solidification and blockages in oil pipelines. Recon's highly automated furnaces operate with 90% heating efficiency.
Lastly, Recon received an RMB 2,378,493 (approximately $348,000 USD) order from CNPC for the Fourth and Fifth Extraction Plants of Huabei Oilfield for burners and horizontal furnaces. Recon's leading technology in its burners and furnaces was an important element in securing this order.
Recon Technology CEO Shenping Yin said, "These four orders from CNPC further demonstrate Recon's strong competitive position in increasing efficiency and profitability for China's oil and gas industry. We're pleased that CNPC, as a leading Chinese oil and gas company, continues to cooperate with Recon for products and technology to enhance oilfield productivity and profitability."
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