US sanctions against Russia may help China
Updated: 2014-08-01 16:43
By Wang Qian in Ji'nan (chinadaily.com.cn)
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"Compared to US and European players, Chinese companies can offer the same services at significantly lower cost, which is undeniably attractive," Zhong said.
Energy conglomerate Royal Dutch Shell Plc declared in April its preference to use more Chinese equipment for American shale gas exploration to lower production costs.
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"Chinese companies are keeping in line with the world's technology development. In the oilfield equipment manufacturing sector, we achieved the world's highest level, which can reliably replace US companies in the Russian market," Zhong said.
Jereh Group, the world's largest oilfield completion and second coiled tubing manufacturer, launched its Apollo 4500hhp turbine frac pump in March. Its debut not only makes China the third country to build turbine fracturing equipment, after the US and Russia, but also sets a world record of one single frac pump's highest output power, 4500hhp.
"More than 100 sets of equipment from our group now work in Russia, Kazakhstan and other CIS countries. They are all customized for the local climate condition, even below minus 40 degrees," Zhong said.
As the second-largest hydraulic fracturing country after the US, the total pressure of plunger pumps in China is up to around 3.1 million horsepower, of which Jereh Group and SJ Petroleum Machinery Co, under State-owned Sinopec Group, each takes a share of nearly 45 percent of the frac unit.
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