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Hilong Oil Service signs USD 5.06 million Workover Technical Service Contract

Date:2020-04-29 | Read(228)

(Shanghai – April 26th, 2020) Hilong Oil Service & Engineering Co., Ltd. Ukraine Branch recently signed two workover technical service contracts and will provide two 750-HP land workover rigs and related services to UkrGasVydobuvannya (UGV). The total contract value exceeds Ukrainian hryvnia 138 million (approximately USD 5.06 million), and both contracts are for one year each.
"The signing of these two contracts has further consolidated Hilong's position as an important vendor in the Ukrainian Oilfield workover service market." Said Wang Xianglei, Vice President and General Manager of Oil Service business of Hilong Group. "Despite current low oil prices, the proposed arrangement in the contract will ensure that Hilong’s existing workover rigs will remain operational. "
UGV is a state-owned natural gas production company in Ukraine, and mainly explores natural gas and natural gas condensate fields in Central and Eastern Europe.