It is reported that in 2011 Shell will invest more than 30 billion US dollars in procurement. This shows that under the leadership of multinational oil giants, the focus of international petroleum equipment procurement is shifting to the Chinese market.

There are two main reasons for the offset:

The international oil price continued to rise, stimulating investors to invest funds in oil and gas exploration and development, forming a new round of oil investment peak. At the same time, because the growth of China's energy demand has also led to the development of petroleum equipment technology, especially the three major domestic oil companies have accelerated the development of overseas business and further promoted the petroleum equipment to the international market.

With the rapid development of China's petroleum industry, the petroleum equipment manufacturing industry has also made great progress. Some products have gradually won recognition in the international market. China's petroleum equipment exports have also reached a new level in quantity and quality. However, it must be emphasized that there is another important factor that cannot be ignored. That is, the labor cost of China's oil drilling equipment is low, and the product price is 30% lower than that of the foreign similar, and some even more. The price advantage in the international market is obvious.

While many Chinese manufacturing companies have gone abroad, some international petroleum equipment manufacturing enterprises have also entered China. They have invested in factories in China, or cooperated with domestic enterprises to directly participate in China's oil and gas engineering projects. Some of the world's leading oilfield technology service companies also use their manufacturing resources in China to expand their global business services. What followed was that international oil companies gradually increased their bidding procurement in China.

The focus of international petroleum equipment procurement shifts to the Chinese market, which is a good thing for HC.

The Surface well testing equipment produced by our company has been widely used in SINOPEC, CNPC, Petrobras, PetroSa, IndianOil, Gazprom, Rosneft and other enterprises.

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