Shengli Oilfield Freet Petroleum Equipment Co., Ltd.

The predecessor of Shengli Oilfield Freet Petroleum Equipment Company Limited was General Engineering Machinery Factory of Shengli Petroleum Administrative Bureau, Sinopec Corp., which was founded in 1964. In May 2005, after being restructured according to the modern corporate system, the factory was named Shengli Oilfield Freet Petroleum Equipment Co., Ltd. In September 2007, by introduction of foreign investment, it was re-incorporated into a Sino-foreign joint venture. With registered capital of 322.69 million yuan, Freet Company is composed of seven branches and six holding subsidiaries. Among the 1,763 employees, 38 have academic title of senior rank, 157 have academic title of middle rank, and 625 have college diplomas. It will unswervingly carry out the scientific development idea to ensure the implementation of international strategy. Carrying forward the cultural ideas that thought will bring about progress and innovation will create future success, upholding the management concepts of being harmonious, people-oriented, scientific and technological, and far-vision, and adhering to the development thoughts of being open, competitive, creative and pragmatic, We will gradually achieve our strategic development goal to internationalize our concepts, products, markets and management.