Recon Technology wins $1.33 million oilfield digitalization contract

Beijing - Recon Technology Ltd., a Chinese firm listed on the NASDAQ, announced on <date> that its domestic subsidiary, Nanjing Recon Technology Co., Ltd., had secured a significant contract in China's oil and gas sector. The contract, valued at approximately 9.6 million Chinese yuan (equivalent to $1.33 million excluding VAT), pertains to production informatization system integration services.

The award came after a competitive bidding process, with the final contract amount contingent on the actual workload for each sub-project. Construction and final acceptance are scheduled for completion by July 2028.

In a statement, Shenping Yin, the Chief Executive Officer of Recon Technology, expressed the company's honor at being selected for this key production informatization construction project. Recon Technology provides a range of oilfield services, including production informatization system integration, smart station construction, and industrial IoT deployment.

The company's expansion into China's oil and gas market through this contract underscores its growing influence in the sector. Besides production informatization services, Recon Technology also offers automated technologies, gathering and transportation equipment, and reservoir stimulation services to oil exploration companies in China.