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News from China Petroleum Network(Correspondent Xiong Wei, Xu Zhuyuan) In the early morning of February 13, under the light of the Yuanxiao (Filled round balls made of glutinous rice-flour for Lantern Festival), the cargo ship "Treasure Ocean" loaded with the first workover rig and supporting equipment of the Great Wall Drilling Indonesia Project set sail from Tianjin Port, marking that the Great Wall Drilling Engineering Company officially entered the Indonesian national petroleum company (PHR) workover market.

In September 2024, the Indonesian National Oil Company issued award letters for 5 450HP workover rigs with a contract period of 5 years. This is the first time that Great Wall Drilling Company has won the bid for the Indonesian National Petroleum Corporation (PHR) well repair market. All departments and related units of the company attach great importance to and cooperate closely to coordinate and promote equipment manufacturing, personnel support, freight clearance and other matters. Especially breaking through the limitations of conventional supplier resource libraries and adopting an operational leasing model for the first time while ensuring quality, the cost of configuring a single set of equipment has been reduced by more than 8%. The underground operation branch of this company has formed a tough team with rich experience in launching overseas well repair projects and a combination of "old, middle-aged, and young" personnel. They have gone to seven manufacturing factories in five cities including Jingzhou, Beijing, and Jinan to implement strict on-site supervision work. In the Panjin area, more than 40 people have been deployed successively, braving the cold winter wind and snow, working in shifts 24 hours a day. In just 20 days, the first workover rig and its ancillary equipment were efficiently tested and rectified under extreme conditions, and strict inspections were carried out on 830 items of 21256 materials involving 50 manufacturers and suppliers. On the eve of the Spring Festival, the first batch of sea freight equipment was consolidated at the port.

The successful entry of Great Wall Drilling's well repair business into the oil field service market of Indonesia's national oil company will create new growth points for the company's profitability.