Recon Technology Won New Automation Contracts from CNPC
OREANDA-NEWS. December 04, 2013. Recon Technology, Ltd. (NASDAQ: RCON), an oilfield service company provider ("Recon" or the "Company") operating primarily in the People's Republic of China, announced it recently won several new automation system contracts with CNPC Jidong Oilfield and Sinopec Southwest Branch Company. The total value of these new contracts will be approximately RMB7.3 million or USD1.2 million.
"The 'digital oilfield' has been one of the most important development of China's oilfield industry. Our leading-edge automation and control technologies help our clients operate more efficiently and effectively, and we are pleased to win these bids and opportunities to help our long-term clients, CNPC and Sinopec," said Mr. Yin Shenping, CEO of Recon Technology.
"Utilization of automation technology system in China's Petroleum industry is currently in its early stage. As Chinese oil companies invest more in efficiency. We believe our rich experience, outstanding technology, professional project management staff and construction personnel will help us to stay ahead in the Chinese oilfield automation and service industry."