Jereh Oilfield Moves into Canadian Upstream Development

Yantai Jereh Oilfield Services Group Co. Ltd., an oilfield equipment supplier in east China, has moved into unconventional upstream development with the CAD 8.8 million ($9 million) purchase of an oil and gas block in Canada from DeerGarden Resources Ltd.

"The asset is characterized as unconventional. The block will be operated in accordance with local market rules, not necessarily using equipment or services from Jereh," company representative Jiang Daguang told Interfax on Friday.