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Archive of posts published in the category: heavy
May
8

Recon Technology Signed A $2.8M Contract for Provision of Detailed Design of Heavy Oil Transportation System in Garraf Oilfield

BEIJING, May 5, 2020 /PRNewswire/ — Recon Technology, Ltd. (NASDAQ: RCON) (“Recon” or the “Company”) today announced it signed a $2.8 million engineering and construction service subcontract with Grand Energy Development Limited on a heavy oil transportation system project (the “Project”) in Garraf oilfield in Iraq for the services that Recon has provided. Pursuant to the subcontract, Recon shall carry out all the engineering design services, provide the technical support to the procurement, construction, commissioning activities and provide the training services of the heavy oil transportation system project.

Garraf oilfield is located in the province of Thi Qar, Iraq, approximately 5km north-west of Al-Refaei city and 85km north of Nasiriya city. The oilfield is 17.5km long and 5.5km wide. It is estimated to hold 1.3 billion barrels of oil reserves. Based on the Final Development Plan approved by the Government of Iraq in 2018, the oilfield is undergoing further development in stages to achieve crude oil production of 230,000 barrels per day by the end of 2020.

As part of the Project, the heavy oil pipeline with a total intended capacity of 275,000 barrels per day will be built to support the Garraf production target. By providing the services under the Project, Recon has played an important role in building the heavy oil pipeline.

“With advanced technique and wide experiences in the automation and digitalization of oil and gas industry, Recon has a relatively competitive advantage in the engineering design and construction businesses in oilfield segment,” Mr. Shenping Yin, co-founder and CEO of Recon said. “With the successful completion of the project, we expect to construct more oilfield projects and hope to help more oilfields reduce costs and maintain yields at a healthy level in the near future.”

About Recon Technology, Ltd.                                    

Recon Technology, Ltd. (RCON) is China’s first non-state-owned oil and gas field service company listed on NASDAQ. 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. Since 2017, the Company has expanded its business operations into other segments of the broader energy industry including electric power, coal chemicals, renewable energy and environmental protection in the energy and chemical industries. Through the years, Recon has taken leading positions on several market segments of the oil and gas field service industry. Recon also has developed stable long-term cooperation relationships with its major clients, and its products and service are well accepted by clients. For additional information please visit: www.recon.cn.

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and

Apr
14

Vehicle sees ‘heavy damage’ in Derby rollover


DERBY — A Route 8 north on ramp in the city was briefly closed Friday night after a rollover crash.

Firefighters and medics were dispatched to the call on Route 8 north near Exit 16 at 8:48 p.m., according to initial dispatch reports.

A first responder in the area chimed in on the radio waves, indicating he could swing by the crash site and report back to the responding units on what to expect.


He confirmed a rollover soon after, but clarified the location — on the entrance ramp for Route 8 north off of Main Street. Moments later, fire units started to get to the scene.

Fire officials at the crash site confirmed it was a one-car rollover with “heavy damage” to the vehicle. Units on scene reported all occupants were out of the vehicle.



As crews worked to clear the crash site, first responders shut down the on ramp from Main Street.

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