- Business
- SPT Energy Group Inc. (SEHK:1251; OTC:SEGYY) is an investment holding company that provides integrated oilfield services; it operates through Drilling, Well Completion, Reservoir, and Others segments, offering drilling services including drilling rigs, workover rigs, complex well workover and fishing, cementing, drilling fluids, rotary geosteering, vertical drilling, horizontal drilling, side tracking, underbalanced drilling, and fine managed pressure drilling technology; well completion services encompassing project design, tools, stimulation, and fracturing; reservoir services such as geology and oil reservoir research, dynamic monitoring, oil testing, recovery technology, coiled tubing, and repair of surface production devices; as well as trading activities, natural gas and edible alcohol sales, and manufacturing of oilfield services-related products. Founded in 1993 and headquartered in Beijing, China, with its registered office in the Cayman Islands, the company serves customers in the People's Republic of China, Kazakhstan, Turkmenistan, Canada, Indonesia, the Middle East, Peru, and internationally, targeting oil and gas exploration, development, and production sectors. Recent developments include its subsidiary PT Cipta Niaga Gemilang entering into an Operation Cooperation Agreement on September 26, 2025, with Pioneer Oil Indonesia for up to USD200 million investment over three years in oil and gas exploration, development, and production in the Jabung Tengah Block, Indonesia, with no capital contribution from SPT and 50:50 profit-sharing if successful; winning development rights for Block VI of Peru's Talara oilfield, expanding into South America; a subsidiary signing a financing lease agreement for oil and gas extraction equipment in Xinjiang, China; and a unit acquiring oilfield operation equipment in Turkmenistan to support capital investments in service projects there.