On December 20th, Shandong Deshi Petroleum Equipment Co., Ltd. (hereinafter referred to as the Equipment Company) signed a strategic cooperation agreement with Mongolia Zongheng Oilfield Co., Ltd. (hereinafter referred to as Zongheng Company) for the joint exploration, development, and production project of "Mongolia XI Block".
Zongheng Company has completed some exploration, oil testing, and production work for Block XI in the early stage. Currently, it urgently needs to cooperate with oil service enterprises with comprehensive oilfield development experience and strength to accelerate oilfield development speed. Therefore, it has chosen to cooperate with our group in order to jointly achieve the goal of low-cost and efficient development of Block XI.
This successful signing is another landing of the group's "comprehensive contracting service for oilfield blocks" in the international market, and is another important measure for the Petroleum Development Technology Business Department to implement the group's "professionalization, modernization, and internationalization" development strategy.
