On October 31st, SOFE’s sub company Kingdream  successfully held a drill bit product&technology promotion conference in Kuwait. This event, throughtechnical promotions,  showedKingdream’s technical strength, typical drill bit solutions for ultra deep wells and shale gas wells, and innovative and optimized applications of its hybrid bits in carbonate formations in Kuwait.

During the conference, experts from Kuwait Oil Company (KOC) provided valuable opinions and suggestions on Kingdream’s products development in the Kuwaiti market, and reached multiplecooperation intentions on ROP and efficiency improvement. Through this event, Kingdream and KOC enhanced their technological mutual trust, shared cuttingedge technologiesin the oil drilling industry, and created a platform for good communication.

In 2022 Kingdream company entered into a long-term drill bit service contract with Kuwait Oil Company. After two years, the company's advantageous products such as large-size hybrid bits, shapedcutters PDC bits, and RSS PDC bits have been widely applied in Kuwait. Through continuous product iteration in each oilfieldblock, the average ROP has been improved by more than 20%, providing a strong support for ROP and efficiency improvement. This technology promotion conference focuses on the convergence of advanced technology and the call forROP improvement, injecting momentum into the company's high-quality development of technology andinternational market.