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Honghua - The Leader of the Global Offshore Oil and Gas Equipment Field

CHENGDU, China, Feb. 12 /PRNewswire/ -- At the end of 2014, Honghua Group ("HH") held a celebration ceremony for project 'TIGER' in Guanghan, Sichuan Province. Senior management, mid-level cadres and project 'TIGER's' team gathered to celebrate the successful installation and naming of the 'TIGER' drilling package. Zhang Mi, Chairman of HH, said, "HH does not simply manufacture ships. We are focusing on some specialized equipment of drilling rigs by making good use of the company's drilling package."

The 'TIGER' drilling package developed by HH is the first deep water floating drilling package designed and manufactured in China. With a drilling depth of 30,000 feet, it has an unparalleled edge in the drillship market with an operating water depth of 3000 - 5000 feet. This drilling package is a middle-to-high end configuration in the offshore engineering equipment manufacturing sector, owns mainstream functions of the international deep water drilling packages and completely independent intellectual property rights.

The core equipment of the entire drilling package developed by HH obtained the design certification of the ABS Classification Society.

HH offers a complete drilling package system solution, including final assembly and overall debugging. The cost of whole drilling package is halved by HH. It is the higher cost-to-performance offshore drilling system.

The successful installation of "TIGER' reflects that HH is capable of shortening the manufacturing cycle of the core equipment.

Honghai Crane is also a tool to shorten the manufacturing cycle. The crane, at a height of 150 meters with a lifting capacity up to 22,000 metric tons, will be completed and put into fully operation in early 2015.

Taking into account of 'TIGER' drillship, HH can simultaneously conduct the hull construction and the manufacture of the drilling package system with Honghai Crane. The delivery cycle can be shortened by 4 months.

On the 'TIGER' drillship naming ceremony, the owner representative said: "The ultimate accolade should be addressed to the drilling package contractor, HH Group. Although HH has never made any drilling packages before, it put huge efforts and finally reached an unparalleled efficiency and professional service level, which a number of manufacturers in the world cannot reach yet. I'm really proud of HH's excellent equipment and the name engraved on the equipment. You are the future hope of the oil industry in China!"

Contact:

Mr. Ping

Tel.: +86-28-8297-1863

pingsk@hhcp.com.cn

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