Amoco in drill-bit venture

PUBLISHED : Wednesday, 16 July, 1997, 12:00am
UPDATED : Wednesday, 16 July, 1997, 12:00am

Amoco Corp and China National Petroleum Corp (CNPC) have signed an agreement to assist China in the manufacture and marketing of 'anti-whirl' rock drill bits. The agreement includes technology transfer, software installation, training and licensing of Amoco patents which relate specifically to polly-crystalline diamond compact bits. The bits will be made by Jianghan Rock Bit Plant, a unit of CNPC.