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[May 2009]
China Gengsheng Minerals Wins $5.5 Million Fracture Proppant Contract
China Gengsheng Minerals Inc (Gongyi, China) has won a supply contract for fracture proppants with PetroChina's Changqing Oilfield. The total value of the contract is US$5.5 million (RMB 37.6 million). Gengsheng is scheduled to start shipping immediately.
Fracture proppants are light, bauxite based, grain-like materials that have a round and smooth surface and a quality of resisting high pressure and acid corrosion. They are used by oil and gas drillers to extract pockets of oil and natural gas scattered underground.
According to PetroChina's English-language website, in 2007, PetroChina's Changqing Oil and Gas Province located at the Ordos Basin in north-west China, produced 12 million tons of crude oil and 11 billion cubic metres of natural gas, making it the country’s third largest onshore oil and gas field.
China Gengsheng Minerals develops, manufactures and markets a broad range of high-tech industrial material products, including monolithic refractories, industrial ceramics and fracture proppants.
ENDS