Hilong Holdings (01623.HK): Signed Drill String Supply Contract Worth Approximately US$44 Million

NewTimeSpace News: On June 18, 2026, Hilong Holdings (01623.HK) issued a voluntary announcement stating that Hilong Petroleum Pipe Company LLC, its indirectly wholly-owned subsidiary, has recently signed a drill string supply contract with ADNOC Drilling Company PJSC to supply drill strings for 19 onshore and offshore drilling rigs, with the contract value standing at approximately US$44 million.

The contract covers extended-reach drilling projects on the Upper Zakum artificial island, including the deployment of the world’s largest IoT-enabled drill strings. By integrating Internet of Things technology, real-time asset management and operational efficiency can be improved.

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