Recon Technology, a Chinese-based supplier of oilfield services and low-carbon energy services, and waste plastic chemical recycling operations, has announced a domestic affiliated entity with the name of Nanjing Recon Technology Co. Ltd. The enterprise has won several bid sections of a production informatization system through a leading domestic oil and gas operator. It is estimated that the total contract value is around RMB 9.6 million (around US $1.33 million), which doesn’t involve value-added tax, aligning with the final amount to be settled based on the actual workload on each sub-project. The service schedule would also align with the operator’s project progress. It is predicted that construction and final acceptance of the entire project will be completed in July 2028.
In recent years, Recon Technology has continued to deepen its presence in the oil and gas digitalization and automation sector, steadily iterating its technical solutions and project management system. The Company has developed mature end-to-end service capabilities covering production informatization system integration, intelligent station construction and industrial IoT deployment. Backed by consistent delivery quality and solid technical strength, the Company has continuously expanded its footprint in China’s core oil and gas field markets, broadened its service scope and customer base, and steadily gained growing industry recognition and market reputation. Winning this competitive open tender against a strong field of established players reflects the Company’s years of technical expertise and industry experience.
“We are very honored to stand out among multiple leading industry players and be selected as the technical service provider for this key production informatization construction project. This award validates our technical capabilities and project execution strength in oilfield automation and digitalization, and reflects the trust from our core clients. As China’s oil and gas industry continues its digital and intelligent transformation, demand for integrated information system solutions remains strong and sustained. We will dedicate our professional resources to delivering reliable, high-quality services that support the safe, efficient, and intelligent operation of our client’s production facilities, and we look forward to further expanding our cooperation.”
-Mr. Shenping Yin, Chief Executive Officer of Recon Technology
This contract represents an important expansion of Recon Technology’s service layout in the domestic oil and gas market. Driven by the industry-wide digital upgrading trend, the Company is well positioned to capture more growth opportunities in oilfield informatization construction and technical services.
Recon Technology, Ltd is the People’s Republic of China’s first NASDAQ-listed non-state-owned oil and gas field service company. Recon supplies China’s largest oil exploration companies with advanced automated technologies, efficient gathering and transportation equipment, and reservoir stimulation measures for increasing petroleum extraction levels, reducing impurities, and lowering production costs. Through the years, RCON has taken leading positions within several segmented markets of the oil and gas field service industry.
