Xinjiang Zhengtong Oil & Gas Co., Ltd

Xinjiang Zhengtong Oil & Gas Co., Ltd., the former “Xinjiang Zhengtong Industrial Co., Ltd.”, was established in December, 2000 by the merger and restructuring of Xinjiang Zhengtong Industrial Co., Ltd. under the original Geological Survey Department of Xinjiang Petroleum Administration Bureau and Xinjiang Saige Economic Development Corporation. With the restructuring of the geophysical prospecting industry of CNPC, the company was put under BGP INC., China National Petroleum Corporation from 2003. At the end of 2010, Zhengtong, in accordance with the spirit of related meetings of CNPC, was put under Western Drilling Engineering Co., Ltd. of CNPC and became its wholly-owned subsidiary. In May, 2011, in accordance with the arrangement and deployment of Western Drilling Engineering Co., Ltd., the company was restructured with the state-owned equities removed and the contributions from the staff still staying in the company incorporated. On June 24, 2011, Xinjiang Zhengtong Industrial Co., Ltd. was registered in Karamay, with a registered capital of RMB thirty million and five hundred thousand (registered address: The Third Floor, Leyuancheng Hotel, No. 59, West Ring Road, Karamay). On August 18, 2015, Xinjiang Zhengtong Oil & Gas Co., Ltd. was re-registered in Karamay, with a registered capital of RMB two hundred and fifty million (registered address: No. 6200, Jinxi First Street, Karamay Petrochemical Industrial Park). Xinjiang Zhengtong Oil & Gas Co., Ltd. is a large joint-stock enterprise integrating such petroleum engineering technology services as drilling, logging, log, fracturing, oil test, down-hole operation, and oil well construction and petroleum engineering technology research. The Drilling Company has 40 well teams which can carry out construction of shallow wells, middle-deep wells and deep wells within 7000m in each oilfield separately and have ability and experience in construction of horizontal wells, directional wells, complex wells and underbalanced wells. The annual drilling footage is more than 700,000m and the production value is more than RMB 1.5 billion. In addition, the company sets up one R&D center, two fracturing teams, four logging teams, eight log teams, two oil test teams and five well repair teams with general contracting qualification for integrated development of oil and gas field and the qualifications issued by CNPC. Xinjiang Zhengtong Road & Bridge Engineering Co., Ltd. is a wholly-owned subsidiary of Xinjiang Zhengtong Oil & Gas Co., Ltd. It has the Grade II qualification for general contracting of national highway engineering construction and qualifications for oilfield construction. Its annual production value is about RMB 100 million. The company thoroughly applies the concept that “development is the foundation of survival and harmony is the soul of development”, adheres to the mission “commitment to development and excellence; self-discipline and social commitment and Zhengtong harmony”, takes the “pioneer of unconventional energy” as the vision to grow stronger and stronger and realize its development strategy – perfecting the complete professional technology services in well completion works and improving the oil development chain as soon as possible on the basis of oil petroleum drilling works. At the same time, the company invests in due time in oil sand ores and shale gas projects to foster new profit increasing points, realize diversified development and become a privately owned enterprise with typical independent R&D technologies and capable to provide drilling-logging-log-pressure-test integrated services. Through 10-year development, the company has its oil field technology service level continuously improved, enterprise scale and profitability increased year by year, risk-resistance capability and core competitiveness steadily improved, and employees’ benefits raised year by year. The company, by adhering to the spirit of scientific and harmonious development, focused on safety, centered on benefits and oriented by the goal of going public in 2016, has been making great effort to create a new situation of sound and fast development. At present, the number of employees enrolled is 1067, including 12 with master's degree, 160 with bachelor's degree and 210 with junior college degree. Main business: petroleum drilling, road and bridge engineering and oilfield technology services. Business scope: drilling engineering, directional well technology services, mud technology services, well cementing, well logging, fracturing, well completion, oil test and technology services, shale (oil) gas, oil sand and coal bed gas business, road and bridge engineering, R & D, manufacturing, sales and leasing of equipment and tools for oilfield, development, production and sales of new materials, and domestic import and export trade.