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Fracturing Products of Honghua Group Successfully Enter Xinjiang’s Oilfield Development Market

March 28, 2019 – In March 2019, Honghua Group Co. Ltd. ( “Honghua” or the “Group”) (0196.HK), the world’s leading onshore oil and gas equipment manufacturer, successfully entered the oilfield development market in Xinjiang with its fracturing products, and received widely recognition from clients for its high operating performance.

This March, Honghua’s electric fracturing skid unit has entered in Xinjiang oilfields market to perform fracturing works. Honghua’s 6,000HP electric fracturing pump, the world’s highest power electric drive fracturing pump, has set a record by completing 8 sections of perforation and bridge plug joint operation for fracturing works in the Huanma Lake in Xinjiang, within a single day. The operating platform was composed of 4 wells arranged in a row. And the zipper fracturing method was adopted for the first time. In terms of pumping methods, Honghua has also made a breakthrough. It adopted a mixed pumping method of electric pumps and traditional fracturing trucks, and was equipped with four 6000HP electric fracturing pumps and four 2500HP fracturing trucks on site.

The oil reserve discovered in mega Mahu Oilfield of Xinjiang is around one billion tons. It is the largest conglomerate oilfield discovered in the world so far, and becomes a new base to increase reserves and achieve large-scale production in oilfields in Xinjiang. The exploration and development of Mahu Oilfield has adopted unconventional models and the cost-effective method of “horizontal well and volume fracturing”.

The exploration and development progress of Mahu Oilfield has shown enormous potential. With the accelerated exploration and development of Mahu, the potential work opportunity in oilfield is huge. Currently, Honghua has cooperated with several clients in this area, providing fracturing and pumping services. In the future, Honghua will offer high-quality equipment and services for effective unconventional development, to improve national energy security, promote Xinjiang’s economic and social development and stability, and contribute to the Belt and Road Initiative.