China Oilfield   

China Oil Field Technology

Will oil dominate again ?

 

 

 

Pension, finally, I agreed with you. come, give me a hug..

 

this is a good potential counter, due to market sentiment, this counter oso kanna wack. my tp for this counter is 1.01 for long term.

 

Please see article below:-



 

China Oilfield Technology
Jan 3 close: S$0.80
OCBC Investment Research, Jan 3

 



QUENCHING China's insatiable thirst for oil: China Oilfield Technology (COT) is an enhanced oil recovery technical services provider. While China's demand for oil remains strong, its ageing oilfields are showing alarming signs of peaking. The International Energy Agency (IEA) predicts that conventional oil production in the PRC is set to peak in the next decade, with China's dependency on imported oil set to break the 50 per cent threshold soon. China is fighting the decline by turning its attention to enhanced oil recovery techniques in a bid to make the most of its existing oilfields.

Successful record in a key oil region: COT has proven its significance in the tertiary oil arena with its market leadership in tertiary oil recovery equipment in China's flagship Daqing oilfields, which contributed nearly one quarter of China's total annual oil production in 2006. Daqing will continue to drive COT's growth with ambitious plans to adopt tertiary oil recovery in 80 per cent of its oil wells within 15-20 years from 10 per cent today. Its record in Daqing is already unlocking doors for COT to other similarly parched oilfields across China.