Chinese-based land drilling rig manufacturer, Honghua Group (HH), has entered into a $25m sales agreement for ultra-deep drilling rigs with Kuwait Drilling Company (KDC), reported Trade Arabia.

HH will provide and deliver one set of ultra-deep drilling rigs to KDC next year, as stipulated in the agreement.

Energy Global quoted HH Chairman, Zhang Mi, as saying that: “This Sales Agreement marks the first domestic made ultra-deep drilling rig to enter into the Kuwait market and breaks the long-term monopoly of the Kuwaiti ultra-deep drilling rigs market by western drilling rigs manufacturers.”

He explained that this move would help his global firm in consolidating and increasing its market share in Kuwait, having entered the country in 2008, and was a further step in company’s penetration of the high-end drilling rigs market in the Middle East.