1. KERRUI's business was initiated in 2001, with Nitrogen Equipment R&D, manufacturing, and technical service. In 2005, started the overseas workover services started. In 2006, we constructed a plant to fabricate an onshore drilling/workover rig and related equipment. From the beginning, we focused on the oil and gas field industry R&D product, the oilfield service, and overseas markets. Along the way our business agency covers more than 57 countries, and products/services are covered in more than 100 countries.
2. Nowadays, KERUI's business map covers three traditional oil&gas industry core businesses: high-end petroleum equipment R&D and products(including oil rig, workover rig, cementing unit, fracture unit, coiled tubing unit, Subbing unit, Christmas tree, pumping unit, downhole tools); petroleum/energy industry EPC solution; oilfield service( conventional and unconventional oil reserv oir development, drilling, workover, Nitrogen/nature gas/ chemical Stimulation, coiled tubing services，)， and so on.
3.Kerui Oilfield Services Group has rich experience in oilfield operations, have international service teams, and has an experienced team of experts. We have an unconventional oil & gas research center and laboratories, and can provide customers with production increase solutions for new and old oilfields, unconventional oil and gas development solutions, and can provide customers with oilfield operation and maintenance, oilfield environmental protection/control, and oilfield digital updating services; we also can provide customers with oilfield professional and technical personnel training and project management services.
We have teams, equipment and experience on drilling and workover engineering and technical services, acid fracturing technical services, coiled tubing technical services, gas stimulation technical services (nitrogen, natural gas, carbon dioxide, high-temperature steam) , and can provide customers with oilfield drilling and completion operations, workover operations, and water and gas injection production increase operations.
At present, there are engineering and technical service projects in operation in Iraq, Russia, Argentina, Colombia, Chad, Nigeria and other countries.
4. Regarding the business model, except for the equipment and tools manufacturing in ourself facatories, usually, kerui has its core capabilities in the oilfield stimulation area and international project operation. We usually play a flexible role in integrating the sources in pushing the project to achieve and fit every partner's requirements.
Specifically speaking, for the oilfield and wells, for example, for shut-in or low-production wells, we evaluate them through historical data. For the wells that with potential production and economic benefits, we will take measures to recover or increase the production. The crude oil produced after the measures token will be used to repay the cost of construction and service first, and then share the profit of the remaining increased crude oil within a certain period in proportion. Until new measures are taken to keep /increase the oil production.
After the recovery/stimulation measures were taken, the resumption or increased crude oil production can't cover the construction and service costs, the loss will be borne by both parties in proportion.
Of course, the process of the evaluation for the wells is the key step, and we need the oil wells to have a certain scale, it decides the economic of the potential cooperation. We can select a mount of wells for test with a pilot contract.
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