Recon Technology secures $3 million in new contracts

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Recon Technology secures $3 million in new contracts
Credit: © Reuters.

BEIJING - Recon Technology Ltd ( NASDAQ : NASDAQ: RCON ), a provider of oilfield services in China, has announced the acquisition of contracts exceeding $3 million with a new customer in the oilfield industry. These contracts, which involve the supply of electronic components and materials for oilfield production, mark a significant development for the company.

Recon's CEO, Shenping Yin, expressed satisfaction with securing these contracts, attributing the success to the company's track record and innovative solutions. The contracts are anticipated to contribute positively to Recon's financial growth and performance. Additionally, there is optimism regarding potential future collaboration and contracts with this customer.

As China's first non-state-owned oil and gas field service company listed on NASDAQ, Recon Technology has established a significant presence in the industry. It supplies major oil exploration companies such as Sinopec (OTC: SHIIY ) (NYSE: SNP) and The China National Petroleum Corporation (CNPC) with advanced technologies and services aimed at enhancing petroleum extraction efficiency and reducing costs.

This announcement is based on a press release statement from Recon Technology, Ltd.

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