Leaders from the All-China Federation of Industry and Commerce and Provincial Federation Visit Hainan Longpan Oilfield Technology to Investigate Overseas Investment Risk Prevention and Control
On April 14, 2025, a delegation led by Luo Laijun, member of the Leading Party Members Group of the All-China Federation of Industry and Commerce (ACFIC), and Ma Xiaofang, Deputy Director of the ACFIC International Cooperation Department, visited Hainan Longpan Oilfield Technology Co., Ltd. for an inspection and research on overseas investment risk prevention and control. They were accompanied by Lin Sheng, Deputy Director of the Hainan Provincial United Front Work Department and Secretary of the Party Leadership Group of the Provincial Federation of Industry and Commerce; Lin Feng, Vice Chairman of the Provincial Federation of Industry and Commerce; and Wei Hejin, Chairman of the Chengmai County Political Consultative Conference. The delegation was warmly received by Xu Xinjing, Chairman of the company, and Xu Hui, Deputy General Manager, who accompanied them on a tour of the deep-water testing workshop and other core production facilities within the industrial park.
Xu Hui, Deputy General Manager of Hainan Longpan Oilfield Technology, first introduced the company’s development history, core business, technological advantages, and industry positioning in oil and gas exploration and development. She highlighted the company’s recent expansion in domestic and international markets, particularly the progress of overseas investment projects in countries along the "Belt and Road" initiative, including operational achievements in oil and gas exploration partnerships and technical service exports.
During the visit, both sides engaged in in-depth discussions on risk prevention and control for private enterprises’ overseas investments. Chairman Xu Xinjing expressed gratitude for the long-term support from the ACFIC and Provincial Federation and provided a detailed report on the company’s overseas investment operations. He emphasized that the company consistently prioritizes technological innovation as its driving force, leverages the policy advantages of the Hainan Free Trade Port, and actively expands its overseas market presence, accumulating extensive experience in oil and gas projects across Southeast Asia and Central Asia. Xu also noted that amid complex global dynamics, the company faces challenges such as political risks, legal compliance, and market volatility in overseas investments. He expressed hope to strengthen communication and collaboration with stakeholders through the Federation platform to enhance risk management capabilities.
Vice Chairman Luo Laijun listened attentively to the report and fully affirmed Hainan Longpan Oilfield Technology’s technical capabilities and global strategy in oil and gas exploration. He stated that as a key participant in the Free Trade Port development, enterprises should fully utilize policy dividends, leverage technological strengths, and actively expand overseas markets. Regarding risk prevention, Luo emphasized the need for companies to strengthen risk awareness, establish robust risk management systems, conduct thorough assessments of host countries’ political, economic, and legal environments, and effectively utilize financial tools such as export credit insurance to enhance resilience against risks. The ACFIC will continue to address challenges faced by enterprises in their global expansion and coordinate resources to provide stronger support for private enterprises’ overseas investments.
Deputy Director Ma Xiaofang, referencing the ACFIC’s survey on overseas investment risks for private enterprises, engaged in detailed discussions with the company on risk identification and management practices. She recommended that enterprises strengthen collaboration with professional institutions, introduce third-party risk assessments, improve emergency plans, and focus on compliance management and localized operations to ensure stable overseas project execution.
Secretary Lin Sheng stated that the Provincial Federation of Industry and Commerce will actively serve as a bridge, creating more platforms for exchange and cooperation, helping enterprises access policy resources, resolve practical issues, and promote high-quality development of Hainan’s private enterprises in overseas investments.
As a private enterprise deeply rooted in the oil and gas sector, Hainan Longpan Oilfield Technology remains committed to technological innovation and internationalization. Moving forward, the company will take this research visit as an opportunity to implement leadership guidance, continuously refine its overseas investment strategies, strengthen risk prevention mechanisms, and ride the momentum of the Free Trade Port to play a greater role in the global energy market, contributing to national energy security and the industry’s internationalization.
Established in 2013, Hainan Longpan Oilfield Technology Co., Ltd. is a high-tech enterprise specializing in R&D and application of oil and gas exploration and development technologies. Headquartered in Chengmai County, Hainan Free Trade Port, the company covers an area of 120,000 square meters and employs 380 staff, with a registered capital of 20 million yuan. In partnership with CNOOC Energy Logistics Co., Ltd., it has jointly built a petroleum technology industrial park, forming an integrated system encompassing offshore oilfield engineering technology development, equipment manufacturing, and safety and environmental services. As a national high-tech enterprise and a Hainan Provincial “Specialized, Refined, Distinctive, and Innovative” enterprise, the company’s self-developed heavy seabed static cone penetration system has filled a domestic technological gap and received the Hainan Provincial First-Set Advanced Equipment Manufacturing Award.
Guided by its “Three Seas Strategy” (Offshore Oil, Hainan, and Ocean), the company leverages the geographical advantages of Macun Port to build an integrated innovation platform combining industry, academia, research, and application. This includes a provincial-level key laboratory for offshore high-temperature and high-pressure oil and gas reservoir exploration, a deep-water equipment testing base, and the CNOOC South China Sea Oil and Gas Energy Academician Workstation’s deep-water testing base. In recent years, the company has actively expanded its overseas markets, implementing multiple oil and gas exploration projects in Southeast Asia and Central Asia. Its technical services extend to major oil and gas fields in the Bohai Sea, East China Sea, and South China Sea, serving 15 central state-owned enterprises and joint ventures. In the future, the company will continue to prioritize technological innovation as its core competitiveness, striving to become a global leader in oilfield technology and services, and contributing to national energy security and the maritime power strategy.