Recon Technology wins RMB 9.6M oilfield digitalization contract

Recon Technology, Ltd. (NASDAQ: RCON) announced that its domestic affiliated entity, Nanjing Recon Technology Co., Ltd., has won multiple bid sections of a production informatization system integration technical service project from an unnamed domestic oil and gas operator.

The total contract value is approximately RMB 9.6 million (around $1.33 million), excluding value-added tax. The final amount will be settled based on actual workload completed under each sub-project. Construction and final acceptance of the entire project are expected to be completed no later than July 2028.

"We are very honored to stand out among multiple leading industry players and be selected as the technical service provider for this key production informatization construction project," said Shenping Yin, Chief Executive Officer of Recon Technology. "This award validates our technical capabilities and project execution strength in oilfield automation and digitalization, and reflects the trust from our core clients."

Beijing-based Recon Technology provides oilfield services, low-carbon energy services, and waste plastic chemical recycling operations in China. The information in this article is based on a press release issued by the company.

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