Honghua Group (00196.HK) announced that its subsidiary Sichuan Honghua and National Drilling Services Co.L.L.C (NDSC) recently entered into a sales agreement with a total amount of about US $52 million. Accordingly, Sichuan Honghua will sell desert towing fast-moving drilling rigs and related parts to NDSC.
Founded in 1990, NDSC is a locally registered drilling contractor providing oil production services in Oman, Indonesia, Kuwait, Bahrain and India.