Jereh Group

The Jereh Group (simplified Chinese: 杰瑞集团; traditional Chinese: 傑瑞集團; SZSE: 002353) known as Yantai Jereh Oilfield Services Group Co.,Ltd. and formerly Jereh Oilfield Services or Yantai Jereh is a Chinese oil field services company and manufacturer of oilfield equipment.

Jereh Group
Yantai Jereh Oilfield Services Group Co., Ltd.
IndustryOilfield services
Headquarters
Yantai, China
Key people
Sun Weijie (CEO)[1]
ProductsDrill rigs, cementers, frac spread, coiled tubing unit, nitrogen pumper, intelligent pipe handling system, snubbing units, hot oilers, coiled tubing injectors and blow out preventers, natural gas compression package, natural gas equipment, compressors, LNG equipment), wellhead equipment, downhole motors and related equipment.
Number of employees
5,847[2]
Websitewww.jereh.com

History

In 1999, Sun Weijie, Wang Kunxiao and Liu Zhenfeng established “Yantai Jereh Equipment Co., Ltd.” to engage in the trade of imported mining accessories. Established American Jereh Corporation in 2008. [3] Listed on the Shenzhen Stock Exchange in 2010.[2] In 2015, Established Jereh Environmental Technology Corporation, focusing on oilfield sludge treatment, sludge dewatering and soil remediation. [3] In 2021, Established Jereh New Energy Technology Co., Ltd. to enter the field of anode materials for lithium-ion batteries.[4] It's market capitalization reached around $7 billion in 2015.[2] It was listed as the No. 246 of Hurun China 500 with a market value of 4.29 billion USD in 2019.[5] It was listed as the No. 418 of Hurun China 500 with a market value of 4.2 billion USD in 2020. [5]It was listed as the No. 408 of Hurun China 500 with a market value of 5.9 billion USD in 2021.[5] It was listed as the No. 397 of Hurun China 500 with a market value of 4.9 billion USD in 2022.[5]

Markets

Jereh is one of the largest domestic oilfield equipment and service providers. It has a domestic market share of about half for shale drilling equipment.[6] The first automated slurry mixing skid of Jereh entered U.S market in 2007. [3]

Projects

Kuwait-Awarded contract by Kuwait Oil Company (KOC), Jurassic Production Facilities 5 for testing, processing and handling of wet and sour hydrocarbon wells fluids from Jurassic Fields.[7]

Venezuela-In January 2013, 970 sets of Jereh oilfield equipment, which worth $178 million, are ordered for PDVSA's first oil & gas service business.[8][9]

References
  1. "The Youngest CEOs In Oil & Gas". Oil Pro. Archived from the original on 2017-01-25. Retrieved 2016-05-02.
  2. "烟台杰瑞石油服务集团股份有限公司2022 年年度报告" (PDF). eastmoney.com. East Money. April 20, 2023.
  3. "Milestones-Jereh Group". www.jereh.com. Retrieved 2023-09-08.
  4. "烟台杰瑞石油服务集团股份有限公司关于投资锂离子电池负极材料一体化项目的进展公告". www.szse.cn. Retrieved 2023-09-27.
  5. "Hurun Report - List". www.hurun.net. Retrieved 2023-09-08.
  6. "China oilfield firms muscling in on sanctions-hit Russia". energychinaforum.com. July 29, 2014.
  7. Projects, SaudiGulf (2021-12-12). "Jereh awarded $423.1m Jurassic Production Facilities 5 Project in Kuwait". SaudiGulf Projects. Retrieved 2023-08-10.
  8. He, Laura. "New Chinese Billionaire Emerges As Oil Services Company Yantai Jereh Soars". Forbes. Retrieved 2023-09-12.
  9. Group, Jereh Oilfield Services. "Jereh $190 Million Shipment to PDVSA, New Boost for South America". www.prnewswire.com. Retrieved 2023-09-12.
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