(Yicai Global) Nov. 27 -- Zhongman Petroleum and Natural Gas Group will provide drilling services worth RUB1.9 billion (USD223 million) to Russia's largest independent natural gas producer Novatek.
Zhongman's Russian unit signed a contract with Novatek affiliate Yargeo, Zhongman, the Shanghai-based driller said in a statement.
The firm will carry out the drilling at Yargeo's oilfield in Yamalo-Nenets Autonomous Okrug in West Siberia, according to the contract, which is valid until Dec. 31, 2020. YNAO is Russia's key natural gas producing region, and accounts for 90 percent of the country's total output and 17 percent globally.
The deal marks the first such contract inked between Zhongman and Novatek, and the firm's second to be won in Russia. Zhongman has been actively expanding into overseas markets in recent times, successively winning several contracts in Iraq, Russia, Ukraine, Pakistan and other countries.
Editor: William Clegg