Smith Drilling Equipment Opens Shop in China

Smith Drilling Equipment, established solely by Smith International, Inc., was officially put into production in the Changzhou National Hi-Tech District of Jiangsu on September 29, 2007.

Smith Drilling Equipment (Changzhou) Ltd. was founded in the Changzhou National Hi-Tech District in October 2006 with a registered capital of US$8.572 million and its workshop area measures 5,931 square meters. This company is an important component of the global strategic deployment of Smith International, Inc. It will produce new oil exploration and developing instruments and equipment with the latest concepts and technology of the international oil and gas industry, and its yearly output is expected to reach 5,000 instruments/equipment in three years. The Company will not only meet the needs of the Chinese market, but is also oriented to the drilling market in the Southeast Asian region.

Smith International, Inc. has factories in more than 70 countries and 23,000 employees worldwide, and is a leading equipment and service supplier in the international energy industry. Paul Williams, its Global Senior Vice President, expressed at the opening ceremony that his company had investigated many cities and finally chosen the Changzhou National Hi-Tech District because people here were very sincere and honest; the local government kept its word and its service for investors was professional, systematic and quick, which helped them a lot in understanding the policy, going through the procedure, looking for the supporting enterprises, engaging talented people and building the workshops.