In January 2024, ArenaPetro achieved a wonderful start.

This month ArenaPetro signed the contracts of AXP600GE surface systems (6pcs), MCM600 multifunctional telemetry tools (12pcs), and won the project of high-temperature and high-pressure testing systems, LWD software, and other projects. The cumulative contracts amount is over CNY 8 million(about USD$1.15M ), and we have also obtained more than ten cooperation intentions, creating the best January sales performance in the recent ten years.

In addition, the MCM1200 telemetry on 13000 meter/40000 foot hepta cable has achieved an uplink speed of 900Kbps and a downlink speed of 150Kbps, breaking its record and is expected to exceed the 1.0Mbps milestone.

The PSGR high-precision spectrum gamma ray  tool  has been calibrated again. The technical team used calibration data from two different standard calibration wells to create their own calibration blocks for uranium, thorium, and potassium elements, and carried out energy transfer. A more detailed and accurate main calibration was carried out in ArenaPetro's factory, providing a strong guarantee for high-precision spectrum analysis methods. The PSGR spectrum tool is expected to start on-site logging operations in the Q2 of 2024.

The LUGT LWD Ultrasonic Hole Imaging tool and azimuth gamma ray tool have completed the technical task of connecting to a company's system interface, and on-site logging services will be carried out after the Chinese Spring Festival.

The UHI2 ultrasonic hole imaging tool has completed the technical work of connecting with the largest logging company in China and successfully joined its equipment sequence. After the Chinese Spring Festival, on-site logging services will be carried out.

After using ArenaPetro's MCM400 multifunctional telemetry system for nearly ten years, a main stream international oil service company has confirmed that it will adopt ArenaPetro's MCM600C telemetry system to upgrade its products. The two companies are coordinating technical team work step by step.

ArenaPetro has also achieved fruitful results in other product lines, especially VSP system and downhole tools at 230℃ and 260℃, and is currently collaborating with customers on technology. After eight years of development, the ERP system has gradually matured and is about to be pushed to industry customers on the market.

The lunar Rabbit Year is going towards the end, and the lunar Dragon Year is approaching. All employees of ArenaPetro wish all colleagues in the oil and gas industry a happy New Year, good health, prosperous career, and great success!

Looking forward to hearing from you in Dragon Year!