(June 13th, 2018, Shanghai) Hilong Group’s wholly-owned subsidiary, Hilong Oil Service & Engineering Albania SHPK, recently won an extension for its completed two-year drilling service contract that it had signed with Shell Upstream Albania B.V. (“Shell”). The total value of the extended contract is approximately US$28 million.
The contract shall be extended for a period of two years until June 5th, 2020. Hilong Oil Service & Engineering Albania SHPK’s HL-30 drilling team, successfully completed the drilling services under the contract signed two years ago.
“The extension of this contract is proof of Shell’s recognition and the value it places on Hilong’s services. This will not only lay a foundation for more in-depth cooperation between the two companies, but also strengthen Hilong’s presence in the Albanian oil and gas services field,” said Hilong Group’s CEO Wang Tao. “It also demonstrates the stable relationship Hilong has established with large oil producers and marks a great breakthrough in Hilong’s expansion in the high-end overseas oilfield services market, especially in Europe. The extension of this contract has injected new life in Hilong’s overseas business development.”
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