# Honghua Group wins 1.5 billion yuan AI drilling rig order from Middle East

Honghua Group, a subsidiary of Dongfang Electric Corporation, signed a contract with a Middle Eastern customer to supply several new AI-powered drilling rigs for installation on artificial islands in Abu Dhabi, with a total value of 1.5 billion yuan.

- Type: Contract
- Announced: 2024-07-16
- Where: Abu Dhabi, United Arab Emirates
- Value: $206.0M (1.50B CNY)
- Status: completed
- Products: AI drilling rigs, island drilling systems
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Dongfang Electric Corporation](https://endata.com/companies/16882.md) (partner)
- [Honghua Group](https://endata.com/companies/18239.md) (supplier)

## Sources

- [sc.people.com.cn](http://sc.people.com.cn/n2/2024/0720/c345167-40917774.html), 2024-07-20: "With a 'smart brain', the drilling and tripping efficiency of the rig has increased by more than 10%."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.