China's Beiken Energy to Set Up Dubai Unit to Tap Middle East Oilfield Market
Tang Shihua
DATE:  May 29 2018
/ SOURCE:  Yicai
China's Beiken Energy to Set Up Dubai Unit to Tap Middle East Oilfield Market China's Beiken Energy to Set Up Dubai Unit to Tap Middle East Oilfield Market

(Yicai Global) May 29 -- China's Beiken Energy Engineering, one of the country's largest privately owned oilfield service firms, will set up a unit in Dubai to expand its market in the Middle East.

The investment will be USD5 million, said the Xinjiang-based firm, adding that the unit will be engaged in oil and gas block exploitation, petroleum engineering contracting, oil drilling and production devices and instruments, and trading of crude oil and other oil products.

The unit will help to strengthen Beiken's ties with international oil companies, while gradually forming a center for its overseas business assets deployment and capital settlement.

Beiken provides oil, gas, and coal bed methane extraction and has international units in Iran, Syria and Mexico. The firm started drilling for natural gas in March under a contract comprising 24 wells in Ukraine's Poltava region.

Editor: Emmi Laine

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Keywords:   Xinjiang Beiken Energy Engineering,Natural Gas,BELT AND ROAD,Dubai,Overseas Unit,Middle East,Oilfields