Honghua Digital Driver
Honghua Group Limited(HKG:196), a leading onshore oil rig supplier is pleased to announce that the Company has recently successfully developed the first electric coiled tubing in China and the first “one-key linkage” automated machine tool system in China, named Rapid Tripping System (RTSTM). In addition, Honghua has recently signed an order for two sets of electric coiled tubing, realizing achievements in both scientific research and commercialization.
- Honghua America, LLC is located in Houston, TX, United States and is part of the Oil & Gas Field Equipment Manufacturing Industry. Honghua America, LLC has 40 total employees across all of its locations and generates $15.82 million in sales (USD). There are 16 companies in the Honghua America, LLC corporate family.
- HOUSTON, May 14, 2020—Schlumberger and Honghua Electric Co. Today announced they have signed a memorandum of understanding (MOU) that will ensure the seamless integration of the DrillOps. on target well delivery solution with all newly built Honghua rigs. Under the collaboration agreement, Honghua will manufacture and sell rigs equipped with plug-and-play capabilities for the open.
- Hangzhou Honghua Digital) is a company specialized in R&D, manufacturing, sales and service support of digital ink-jet printing technology and equipment. Currently, its products and solutions are widely used in concerned industries like textile, printing, sign & graphic, hometextile and customized design.
Recently, based on the successful promotion of electric fracturing complete sets of equipment and the R&D advantages of power motors and electronic control systems, and adhering to the design concept of “fully electrically driven, intelligent fracturing”, Honghua independently developed the first set of electric coiled tubing and successfully completed the industrial tests in January 2021. Right after the tests, Honghua landed an order for two sets of electric coiled tubing, which were expected to be used in shale gas development in Sichuan and Chongqing. Electric coiled tubing is another crucial part of Honghua’s fully electric fracturing equipment. Focusing on electric fracturing pumps, Honghua has now established complete sets of electric fracturing equipment, which have been successfully applied to multiple well sites in Sichuan and Chongqing.
Digital t shirt printers & direct to garment printers (Direct to garment means DTG) can print any custom patterns on t shirt directly (includes other textile materials), just like your home printer applies one to a piece of paper, so very simple and convenient. (Atexco) Hangzhou Honghua Digital Technology Stock Co., Ltd. 1 digital textile printing solutions supplier in China, who specialized in R & D, manufacturing, sales and service of digital ink-jet printing technology and equipment since 1992.
Coiled tubing can be widely used in multiple oil and gas field operations, including drilling, completion, logging, workover and fracturing. It is also known as the “all-purpose operating machine”. Honghua’s electric coiled tubing is innovative and competitive in three aspects: performance and efficiency, automation and synchronized control. The main drive of the equipment is now electric – this is disruptive as the industry relied on diesel engine and hydraulic motor drive. A substantial improvement in performance and efficiency has been realized. The operating cabins adopt digital control and display systems to improve automation. Backed by smart algorithm, the operators are able to conduct high-precision synchronous control of the injection head. Moreover, the electric coiled tubing also reduces environmental pollution caused by hydraulic pressure and noise. It also adopts a unique organic combination of semi-trailers and skids to improve the adaptability of the operating machine to domestic mountainous and hilly areas. Such R&D achievements have solved a number of application problems of conventional coiled tubing. The swift leap forward from R&D to purchase order further proves the commercialization ability of Honghua – this is also an inspiring recognition from the market.
According to Spears & Associates, a leading oilfield consulting service provider, the market size of global coiled tubing services has exceeded USD5 billion in 2019. In recent years, with the continuous improvement of the geological understanding of shale oil and gas in North America and the continuous improvement of horizontal well and fracturing technology, coiled tubing technology has played a pivotal role in accelerating the development of unconventional oil and gas resources. In September 2016, the National Development and Reform Commission, the Ministry of Finance, the Ministry of Land and Resources and the National Energy Administration of China jointly issued “Shale Gas Development Plan (2016-2020)”, striving to achieve an annual output of 80 billion to 100 billion cubic meters by 2030. Looking ahead, China’s annual natural gas output is expected to reach 260 billion cubic meters in 2035, with unconventional gas output accounting for more than 44%, entering the real unconventional gas era. Sichuan and Chongqing are rich in natural gas resources. With the large-scale development of shale gas and conventional sour natural gas, coiled tubing operation technology, which is a key technology for horizontal well stimulation and transformation operations, is expected to usher in a new period of development opportunities. As the requirements for cost reduction, efficiency enhancement and green development continue to increase, intelligent electric equipment will become the mainstay of China’s unconventional oil and gas development equipment due to its high degree of automation, outstanding stability at low speed, low noise output and eco-friendly characteristics.
At the same time, Honghua successfully developed and launched Rapid Tripping System (“RTS”), which is composed of a centralized control Zone Management System (“ZMS”). RTS is composed of two parts, and the efficient parallel linkage of the participating equipment is realized through process-based automatic operation, which is safer. It optimizes the system integration, operation process, and tripping speed of the existing equipment. In an experiment on a 5,000-meter rig, the system successfully increased the tripping speed of the rig by 35% and reduced the number of operators by 50%. It is expected that the system can meet the needs of the market for renewal and iteration of stock rigs. The successful research and development of RTS is another milestone for Honghua in the process of improving drilling automation and informatization.
About Honghua Group Ltd
Honghua Group Ltd (Stock Code: 0196.HK, “Honghua”) is the main platform for energy equipment development of China Aerospace Science & Industry Corporation (“CASIC”). As a world-leading land drilling equipment manufacturer and one of the largest land drilling rig exporter in the PRC, Honghua is primarily engaged in developing and manufacturing land drilling equipment (drilling rigs, parts and components as well as downhole tools, etc.), completion products (including fracture package), offshore drilling module and package as well as shale gas and oil exploration and development service. Leveraging strong R&D capability, high-quality production facilities and a mature international sales network, Honghua’s products have been sold to a large number of famous enterprises all over the world, across major oil-production regions such as North America, the Middle East and emerging markets including South America, South Asia, Russia, Central Asia and Africa. In the future, Honghua will continue to focus on its key businesses while increasing the resource allocation to unconventional oil and gas business and the “energy + internet” field. Honghua aims at becoming a world leading oilfield service provider.
This press release is issued by Institutional Capital Advisory (Asia) Limited on behalf of Honghua Group Co., Ltd. For any enquiries, please contact:
Institutional Capital Advisory (Asia) Limited
Tel: +86 (21) 8028-6033
E-mail: honghua@icaasia.com
Honghua Digital Drivers
Sichuan Honghua Petroleum Equipment Co., Ltd, situated in Guanghan, Deyang, Sichuan, is a high-tech enterprise specializing in petroleum drilling, production, design, manufacturing, equipment assembling and service. The company, since her establishment in 1997, has weathered striding development in the past 10 years of great effort. This company covers an area of 1000mu and has over 3000 employees, able to manufacture 150 sets of petroleum drilling machines, a total value of 6 billion yuan. It is a leading manufacturing enterprise in Sichuan Province and one of the demonstrative high-tech enterprises and China’s largest land petroleum drilling machine manufacturing enterprises. In March, 2008, Honghua Group was main board listed in Hong Kong Stock Exchange （HK0196）as China’s first listed drilling machine manufacturer.
This company’s major products covers 1000-12000m land drilling machines, including DBS AC variable frequency digital control electric drilling machines, DC electric drilling machines, mechanical drilling machines, compound drilling machines, drag drilling machines, independent electric rotary drilling machines, direct drive pumps, travel hoisting system, solid control system, electric control system and other products. Most of her products are exported to foreign markets which are distributed in the Americas, Africa, the Middle East, Central Asia, Southeast Asia, Russia and other areas.
This company attaches great importance to technical research and development and has researched and developed continuous tube drilling machines, single drilling machines, 5-cylinder pumps, fracturing pumps, direct drive and top pumps and other new products, which lead the world technical development trend of petroleum drilling machines. In the past few years, this company has submitted 92 patents, of which 23 are inventions, 69 are applications. 33 patents are awarded as new and applicable patents.
Honghua in Sichuan Province was among China’s top 100 best machinery enterprises in the period 2008-2009. It is also among the top 10 best enterprises since the ranking of China’s petroleum equipment manufacturers for 6 successive years and has been ranking first for many years as China’s petroleum equipment manufacturing enterprises in earning foreign exchange through export. In 2007, this company’s “Honghua” brand was awarded as “China Top Brand” by China Quality Supervision Administration. Many of the company’s products have titles such as “State New Key Products” and “State Torchlight Program Projects”.
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In 2011, this company invested 300 million yuan in technical innovation. This project, aiming at “Creating the Southern Section, Improving the Northern Section for a First-Rate Manufacturing Base”, is to purchase large-scale precision equipment and necessary precision testing equipment, to build new factory buildings, to rebuilt old factory buildings so as to optimize the functions of the southern and northern sections of the company as an integral whole. This company is going all out in optimizing the technical layout to facilitate production and business operation, to realize self-making of key products / component parts, to supply its partner with necessities and to assist other enterprises of the same trade in their harmonious development. This company also attaches importance to environmental protection, to healthcare of her employees, to integral planning and to technical innovation.
After technical innovation, this company shall be integrated into “The World’s First Unconventional Oil and Gas Resource Equipment Manufacturing Base”, “China’s First-Rate National-Level Petroleum Equipment Test Center”, as a brand
enterprise of Guanghan City, the first brand of Guanghan City, the first-ratte petroleum equipment industrial park, its production value leaping from 3.6 billion Yuan in 2011 to 12.7 billion Yuan in 2015.
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In the light of market and industrial trends, this company has been aiming at promoting the construction of the three sections of the company, equipment manufacturing, resource developing and engineering service, at realizing the four transitions, industrial transition, technological transition, managerial transition and leadership transition. The three sections include land drilling machine manufacturing upgrading, maritime work equipment research and development, in the section of manufacturing, shale gas development technology and equipment in the section of resource development. This aim of hers is an indication of her development orientation, that is, company development centered on “technical innovation” in the coming 10 years.