Zhongman Petroleum and Natural Gas Group Co., Ltd. (ZPEC), China's leading provider of products and service for the oil and gas industry, and K.A.B. Drilling & Associates concluded joint venture agreement for the sales, drilling, and service operations in Saudi Arabia and the Gulf region. Under the joint venture agreement, ZPEC, through K.A.B., will supply the oil and gas industry in the Kingdom and other GCC countries with drilling rigs and components. A ZPEC team, accompanied by K.A.B. officials, has visited Saudi Aramco and other companies engaged in the drilling sector to promote their rigs, along with their cementing and geologic control services. The team also made technical presentation at Le Gulf Meridien Al-Khobar, which was attended by chief executives and operation managers of drilling companies. Delin Chen, ZPEC deputy general manager, made the presentation and answered inquiries from local drilling companies. “We are encouraged to note that our discussions with the key players in the oil drilling sector, including Saudi Aramco, have been very fruitful, and that our products have been well appreciated and received,” said Jinming Wang, ZPEC vice president. Abdulaziz Saleh Abalkhail, president/CEO of K.A.B. Drilling & Associates, said Chinese rigs have come of age in the Kingdom. “The Chinese technology in the oil and gas industry are not far behind and are making significant inroads and acceptance in the global hydrocarbon industry,” he said. Renato A. Santos, director of Corporate Affairs of K.A.B. Drilling & Associates, said a number of ZPEC rigs and component products are now being utilized in the Kingdom, including those by Sinopec. The products and services of ZPEC include mainly integrated drilling rigs and components manufacturing, drilling and drilling engineering services, vehicle gas filling stations, and international trade. ZPEC has six subsidiaries that manufacture, market, and undertake research for all the products and services of the company. The subsidiaries are Zhongman Petroleum Drilling Technology (Shanghai) Co., Ltd., 3H (Shanghai) Petroleum Equipment Co., Ltd., Kunlun Petroleum Equipment Manufacturing (Sichuan) Co., Ltd., Zhongman International Petroleum Equipment (Beijing) Co., Ltd., Zhongman Petroleum and Gas (Shandong) Co., Ltd., and Zhongman and Gas Technology (Shanghai) Co., Ltd. ZPEC owns 29 applied patents and is a member of the International Association of Drilling Contractors (IADC) and certified by the American Petrol Institute (API).
