Its wholly-owned subsidiary, Xi?an Cenozoic Oilfield Information Engineering, has been awarded a 7-year integrated oilfield services contract. This marks their first integrated oilfield services contract in China.

It has signed an agreement with Canada-based Liburdi Investment Limited to jointly set up a company, Liburdi Asia.

The Liburdi Group owns and provides advanced technologies such as specialized stripping technology, automated welding systems, rejuvenation heat treatments, enhanced aluminide coatings for superior oxidation and corrosion protection that are critical in upgrading and extending the service life of superalloy components. Its  industry standard precision welding technologies has been deployed in critical fields of aerospace, nuclear, medical, and industrial and tube mill applications. The group can  also designed and build industrial welding systems for applications in fields such as oil and gas production platforms, gas pipelines, power generation, ship building, medical, electronics, automotive and aerospace.

The Company will focus on providing these state-of-theart technologies and services to the oil and gas industry in the areas like production platforms and oil and gas pipelines. In addition, the Company will also be engaged in project management of petrochemical-related projects in China and other parts of Asia, including but not limited to projects from China National Petroleum Corporation (CNPC), China Petrochemical Corporation (CPC) and China National Offshore Oil Corporation (CNOOC).

The set up of the Company is expected to be completed by the end of June 2007.