We made considerable progress in exploring the overseas equipment and material market, thanks to continued investment in global exploration and development and the fast growth of CNPC's overseas oil and gas operations. Equipment manufactured by CNPC has been exported to 69 countries and regions including North America, South America, the Middle East, South East Asia, South Asia, Africa, Russia and Italy.

In 2007, CNPC signed USD 1.71 billion worth of new contracts and a trade volume of USD 1.02 billion was achieved, while 32 drilling rigs and many more drilling rig accessories were exported. We also exported 1,293 pumping units, 1.47 million meters of pumping rods and 5,780 oil well pumps, in addition to 209 diesel and natural gas engines, generators, engine sets and generator sets.

  We entered into a working agreement with Petróleos de Venezuela (PDVSA) whereby CNPC would sell drilling rigs to Venezuela and establish a drilling rig service center and a drilling rig assembly plant locally. A sales contract covering the first batch of 13 large drilling rig units has been signed under the framework of the agreement.

  In Iran, we won a contract for 13 drilling and workover rigs.

  Four drilling rigs were exported to Cuba.

  We won the 420km pipeline supply contract for the first phase construction of the Russia-China pipeline, covering 190,000 metric tons of steel pipes and 70,000 metric tons of steel plates.

  We were also awarded supply contracts in India and Algeria. The Indian contract covered 400,000 metric tons (equivalent to more than 800km) of spiral welded pipes for India's East-West Gas Pipeline. Under the Algerian contract, we will supply 560km long pipes.

 The 180KW firedamp generator set was exported to Tanzania, which has become one of the standard products selected by the United Nations' biomass gasification for power generation program.

 53 diesel engines for drilling rigs were exported to the Commonwealth of Independent States (CIS).

 Our 22 solid control equipments were exported mainly to the Central Asia and South African markets.

  We supplied 556.6 kilometers, or 250,000 metric tons, of Spiral welded piples for India's East-West Gas Pipeline.

  91,000 metric tons of large-diameter longitudinal, submerged arc welded pipes manufactured by CNPC were supplied to Russia's Tayshet-Nakhodka Pipeline.

We successfully entered the Saudi Arabian market, and we were awarded a contract to supply 220 kilometers, or 37,000 metric tons of spiral welded pipes to Saudi Arabia.