Core Insights - Dongying City has established itself as the largest oil equipment base in China, developing a comprehensive industrial chain that supports oil and gas extraction [3] - The oil equipment industry in Dongying is projected to reach a scale of over 30 billion yuan by 2024, highlighting its significant growth potential [3] - The city has nurtured a number of high-quality leading enterprises, with 23 oil equipment companies recognized as "little giants" by the Ministry of Industry and Information Technology [3] Industry Overview - The oil equipment industry encompasses six major segments: exploration, drilling, logging, oil extraction, oil and gas transportation, and marine oil equipment, providing a full range of services for oil and gas extraction [3] - Dongying's oil equipment industry is recognized as a key traditional industry that plays an increasingly important role in ensuring national energy security [3] Key Companies and Innovations - Leading companies in the industry include: - Shengji Company, which has developed intelligent workover rigs that fill a technological gap in the domestic and international markets [3] - Weifeng Marine Company, which has produced the first domestic shallow water subsea tree system in collaboration with CNOOC Research Institute, breaking Western technology monopolies [3] - Qilong Marine Company, the sole manufacturer mastering core technologies for deep-water riser pipes, contributing to domestic substitution [3] - Hongfeng Company, which has developed high-pressure manifold projects that break the monopoly of European and American companies [3] Government Support and Future Plans - Dongying City has identified the oil equipment industry as one of its eight key industrial chains and is implementing supportive policies for digital transformation, specialization, and the cultivation of first-of-a-kind products [3] - The city aims to continue expanding its advantages in the oil equipment sector and achieve high-quality development [3]