Hailong Holdings (01623) signed a drilling column supply contract worth about 44 million US dollars.

The Zhtng Finance and Economics App reported that Hilong Holdings (01623) issued an announcement stating that its indirect wholly-owned subsidiary, Hilong Petroleum Pipe Company LLC, has recently signed a drilling supply contract with ADNOC Drilling Company PJSC (ADNOC Drilling) to provide drilling pipes for 19 onshore and offshore drilling rigs. The contract is valued at approximately $44 million. The Board believes that the contract reflects the strategic client's confidence in the Group's drilling pipe design and manufacturing capabilities, and supports the Group's goal of expanding its market share in the region. The contract covers the most complex large-displacement drilling on the artificial island of Upper Zakum, and includes the deployment of the world's largest IoT-enabled drilling pipe, which integrates IoT to enhance real-time asset management and operational efficiency, and also provides potential for the implementation of artificial intelligence.