In the SINOPEC and CNOOC’s public bidding activities, we got that our multiple product items were successfully awarded. This bid is an affirmation to our product competitiveness under the new market situation and will have a positive impact to our company’s production and operation.
On June 8, 2017, our company attended the “oil tubing and casing framework agreement procurement public bidding meeting in 2017” held by China petroleum and chemical group co., LTD. After review and bid opening, four of our company’s standard packages including finished casing pipes, finished tubing pipes, plain end casing pipes and plain end tubing pipes were successfully short-listed, respectively won the second, fourth, fifth, fourth grade. Finished tubing pipes which won the second grade could guarantee to allocate 15% of SINOPEC’s tubing pipes usage throughout the year. The bidding result had been released by public announcement after SINOPEC’s meeting on June 9. At the same time, SINOPEC’s material supplies department requested us to perform our obligations strictly and ensure to provide 20,000 tons of tubing and casing products during the third quarter of 2017 and the second quarter of 2018. Also we successfully won the CNOOC’s award which is 2-7/8 "and 3-1/2 "tubing for a total quantity of 3563 tons in 2017.
Shandong Molong aim to be the famous international petroleum and Machinery equipment manufacturer and service provider, this bid had inspired us greatly, which can further consolidate the company’s competitive advantage in the field of oil equipment manufacturing and services and produce a positive impact on our business performance. The company will and as always won the affirmation of customers at home and abroad with its excellent products and services.
