Operation Status Improved at ZPEB Saudi Arabian Subsidiary

In the first half of this year, ZPEB Saudi Arabian subsidiary has accumulatively spud in 63 wells, delivered 61 wells, concluded new contracts with value of USD 180 million, and achieved output value of RMB924 million yuan. The surface construction project has fulfilled the contract accounting for 31.64% of the total contract value. All the projects have realized the safety operation without accident, and the business operation of the subsidiary been improved.

Faced with various difficulties caused by the financial crises as the shrinkage of the old market, slow development of the new market, increasingly shut down of rigs due to expiration of contracts, strict requirements of the client in bid evaluation, and rising of comprehensive cost, ZPEB Saudi Arabia subsidiary has been leading the cadres and workers performing the campaign for strengthening safety, improving performance, exploring market and enhancing economic benefits ever since the beginning of the year, which has made the market development improved with good results, performance in safety operation steadily enhanced, rig site management in good order, precise management won support among the staff, quality of employees steadily improved and good achievements been made in the work of various aspects.