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Honghua Group Unit to Sell 600 Million Yuan Drilling Rigs to Middle Eastern Client

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Honghua Group (HKG:0196) unit Sichuan Honghua Petroleum Equipment agreed to supply a customer in the Middle East with sets of large drilling rig equipment worth 600 million yuan.

The drilling rigs will be equipped with automated tools developed by the company, as well as intelligent equipment, according to a Wednesday Hong Kong bourse filing.

The company has a long-standing relationship with the customer, which is a drilling contractor and integrated oilfield service provider in the Middle East.

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