ASTANA, Kazakhstan, June 12, 2017 /PRNewswire/. On May 23, 2017, Chinese equipment manufacturer Kerui Petroleum successfully held the Energy Forum 2017: New Technology, New Methods and New Financing Programs for Central Asia in Astana, the capital city of Kazakhstan. More than 110 of Kerui's customers from Kazakhstan, Turkmenistan, Uzbekistan, Kyrgyzstan, Tajikistan and Azerbaijan attended the forum. This took place one week after the conclusion of the Belt and Road Forum for International Cooperation and the 25thanniversary of the establishment of relationships between China and these central Asian countries.
Huang Yonghong, Vice President of Kerui Petroleum, indicated in her speech that the "new normal" for oil prices presented both new challenges and new opportunities for the industry, focusing on how to better invest in oil and gas development, how to lower costs and increase output, how to maximize return on investment and how to integrate resources from different industries presenting a whole ecosystem.
To deal with the "new normal" in the oil and gas industry, Kerui has actively integrated global resources and undertaken a transformative upgrade of its operations. In 2016, the energy equipment maker established a cross border e-commerce platform for oil equipment and an online trading and rental platform for idle oil and gas equipment worldwide. The establishment of the new platforms optimized the resource portfolio across the oil and gas industry and helped customers lower costs and increase efficiencies. Several memorandums of understanding for future collaborations were signed during this year's forum.
Kerui invited leaders and expert advisors from five Chinese financial institutions, including China Export and Credit Insurance Corporation, China Development Bank, Export-Import Bank of China, Industrial and Commercial Bank of China and Bank of China. The financial experts could provide customized investment and other financial services based on the actual situation in Central Asia, and to meet customer's needs.
Kerui's development roadmap is well aligned with the Chinese government's The Belt and Road Initiative (B&R) which includes Central Asia. The energy equipment maker works in 45 of the 68 countries targeted by the B&R's. Kerui Petroleum established its first branch in Kazakhstan 14 years ago. With nearly a decade and a half of experience, Kerui has become an international integrated industrial group focusing on high-end oil equipment R&D and manufacturing, delivering oil & gas field production solutions as well as oil & gas engineering value chain integrated solutions, based on global oil & gas products, technologies, human resources, financing and assets.
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