Kingdream PLC

Drilling, Energy
SHE: 000852
China

In 2018 the U.S. states of New Jersey and New York listed Kingdream on its list of entities determined to be engaged in prohibited activities in Iran rendering Kingdream ineligible for investment and/or state contracting.

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In 2017 the U.S. state of Mississippi listed Kingdream on its Iran prohibited companies list rendering Kingdream ineligible for investment and/or state contracting.

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"Kingdream Public Limited Company (Kingdream) is a Chinese Class-I high-tech enterprise specializing in oil bits. With 3,500 employees, Kingdream is the largest oil bit manufacturer in Asia. The company stresses innovation in the design of its products and has so far received 110 Chinese patents, as well as 11 patents in other countries, including the USA, Russia and Iran. Kingdream has also developed 115 proprietary technologies."

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"Kingdream states that it holds patents for drill bits in Iran, as well as the United States and Russia.... The company has supplied the National Iranian Oil Company (NIOC) wiht drill bits for its extraction activities.... In the United States, Kingdream lists Oklahoma-based HIJET Bit, Inc. as its American distributor." (Mark Dubowitz and Laura Grossman, "Iran's Chinese Energy Partners," September 2010, p. 27)