OREANDA-NEWS. July 08, 2014. A leading global land drilling rig manufacturer - Honghua Group Ltd. (Stock Code: 196.HK) ("Honghua" or the "Group"), is pleased to announce that Honghua Golden Coast Equipment FZE ("Honghua Golden Coast"), a wholly-owned subsidiary of Honghua, entered into a land drilling rig sales agreement (the "Agreement") with Abraj Energy Services LLC ("Abraj"), the largest drilling company in the Sultanate of Oman, with a total amount of approximately USD32 million (approximately HKD251 million).

Pursuant to the Agreement, Honghua Golden Coast will provide 2 units of 7,000 meters land drilling rigs to Abraj and deliver them by the first half of 2015.

Mr. Zhang Mi, Chairman of Honghua commented, "We've maintained a close partnership with Abraj. This is the third agreement signed with Abraj since we successfully entered into the market of Sultanate in 2013, which further reflects the high recognitions of the client and local market, strongly motivating us to expand the business in the middle east gulf market in the future."