- Business
- Yantai Jereh Oilfield Services Group Co., Ltd. (002353.SZ) manufactures high-end oilfield equipment and provides oil and gas engineering and technical services, environmental management solutions, and new energy products internationally. Founded in 1999 and headquartered in Yantai, Shandong Province, China, the company offers a comprehensive portfolio of products and services, including fracturing equipment, plunger pumps, intelligent cementing and coiled tubing equipment, natural gas compressors, gas turbine gensets, power supply solutions, skid-mounted units, deck equipment, subsea equipment, sludge waste treatment systems, soil remediation technologies, and sludge dewatering solutions; it also delivers integrated oil and gas field services such as smart oilfield solutions, geological and reservoir research, integrated drilling and completion, stimulation technical services encompassing fracturing, acidizing, coiled tubing, downhole tools, well testing, water injection, sand control, and nitrogen services, secondary and tertiary oil recovery including heavy oil thermal recovery and chemical treatments, as well as oil and gas production, operation, and maintenance management.
The company operates across key business segments in oilfield services, equipment manufacturing, technology services, environmental management, and new energy, targeting upstream oil and gas customers, national oil companies, and international energy firms in regions including China, the Middle East, Russia, Central Asia, and North America through subsidiaries such as Jereh Energy Services Corporation, Jereh Oil & Gas Engineering Corporation, and American Jereh International Corporation.
In recent developments, Yantai Jereh signed a development and production contract in October 2024 with Petro Iraq and Midland Oil Company of Iraq to jointly develop the Mansuriya gas field, marking its first major project as a developer in the Middle East; it secured a $920 million EPC contract in June 2024 with ADNOC Onshore for AI-driven well services; and in October 2024, its unit Jereh Oil & Gas Engineering won a $288 million EPCC contract from Bapco Upstream in Bahrain, reflecting expansions in international engineering, procurement, construction, and commissioning projects.