On November 26,Hilong and China Petroleum & Chemical Corporation(Sinopec) signed a strategic supplier cooperation agreement in Beijing,which signified that Hilong's cooperation with Sinopec has entered a new stage of vigorous development.

Under the guideline of "conmlementation of advantages,reciprocity and mutual benefit,cooperation and win-win,joint development",the"Strategic Cooperation Agerrment Between the Material Equipment Department of China Petroleum & Chemical Corporation and Hilong Group of Companies Ltd"signed between both sides has a cooperation period of three years in its first round of cooperation.

According to the agreement,Sinopec and Hilong Group will carry out extensive communication and cooperation in aspects of resource and market cooperation,technology development and application,information sharing,business and logistics management.In order to ensure successful and effective cooperation,senior management personnel from both sides will meet at least once each year to jointly discuss and settle key issues in cooperation,and coordinate with each other to resolve problems encountered in the process.

Wherein,in the aspects of resource and market cooperation,Sinopec and Hilong Group will establish and deepen cooperation in export trade,jointly develop international market,and expand export trade.

In terms of technological cooperation,both sides will intensify cooperation efforts for domestic production in special drilling tool,pipeline for petroleum exclusive ues,and pipline anti-corrosion aspects,continue to promote problem-tackling work in domestic production for special drill pipe,establish a domestic production cooperation mechanism featuring risk sharing and achievement sharing,in order to jointly improve both side's market competitiveness.

"The signing of strategic supplier cooperation agreement between Hilong and Sinopec will further expand the levels and fields of cooperation between the parties."Said Zhang Jun,Chairman of Hilong Group."Sinopec is a leading enterprise in China's petrochemical industry,a world famous energy company.Hilong's signing of strategic supplier agreement proves that Hilong's performance in petrol equipment market has obtained acknowledgement from high-end customers and the market,which also mark a key milestone in Hilong Group's rapid and sound development process."

In the signing ceremony,Zhang Hongshan,Deputy General Manager of Shengli Oil Field,delivered a speech on behalf of Sinopec's oilfield enterprises,in which he specially mentioned the application of Hilong's high anti-torque and dual-shoulder drill pipe in wells with complicated geological conditions and deep well in Shengli Oil Field ,and praised Hilong and Hilong products and services.(See photo below)