(June 8th 2015, Shanghai) Hilong successfully secured a drilling service contract recently with POLY-GCL Petroleum Group Holdings Limited (Poly-GCL), to provide it with drilling services in Ethiopia by using two drilling rigs.
The contract is for a term of 2+1 years, in amount of US$ 70,000,000. This contracted project is expected to commence in the Ogaden Basin in August 2015.
Poly-GCL signed agreements with the Ministry of Mines of Ethiopian in 2013 for the development of plenty of sections in the Ogaden Basin.
Dai Daliang, Senior Vice President of Hilong and General Manager of the Oil Service Business, says, “This successful landing in the East Africa market with Poly-GCL is another significant breakthrough by Hilong in its development of new clients and new markets. It is not only a good beginning for Hilong to secure subsequent contracts with this client in the future, but also has laid a solid foundation for Hilong to further develop its business in this region in the future. ”
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