Shandong Pearl's 100,000-ton oil equipment manufacturing project starts construction
On October 8, 2008, Dongying City Pearl Engineering Co., Ltd. invested and constructed an annual production capacity of 100,000 tons of petroleum equipment manufacturing projects in the Kenli Economic Development Zone.
The Pearl Petrol Equipment Manufacturing Project has a total investment of 1.04 billion yuan and a planned total construction area of 210,000 square meters. The first phase of the project was completed and put into operation in November 2009. In 2012, the company completed all investment, and can produce 100,000 tons of various oil drill pipes, drill collars, and screw drills, and achieved an output value of 3.2 billion yuan, a profit and tax of 900 million yuan, and more than 1,200 jobs. The project adopts world-class production technology and manufacturing equipment, and many research institutions such as the University of Petroleum provide technical support.