WSP Holdings Ltd ( NYSE: WH)

http://www.reuters.com/finance/stocks/overview?symbol=WH

BRIEF BIOGRAPHY of CTO - Zhang, Yi

Mr. Yi Zhang is Vice General Manager - Technology of WSP Holdings Limited. He is responsible for technology development and quality control. Mr. Zhang served as a director until June 30, 2007 and is currently a director of WSP China. Prior to joining the Company in January 2004, Mr. Zhang served as the chief engineer of Baosteel Tube Co. from July 1998 to December 2003 and as the deputy chief engineer of the Xi’an Tubular Goods Research Center from May 1982 to June 1998. Mr. Zhang was an instructor to post-graduate students in material science at the Graduate School of Northeast University from July 2002 to July 2007. Mr. Zhang was awarded Certificates of Technological Innovation from the Shaanxi People’s Government, the State Science and Technology Commission and the Ministry of Science and Technology in January 1997, December 1997 and December 1998, respectively. He received the Tianjin Science and Technological Innovation Certificate from the Tianjin People’s Government in September 1999, as well as a Certificate of Product from Baosteel Group in October 2000, and received a Senior Engineer’s Certificate from CNPC in 1993. Mr. Zhang received a master’s degree in metallurgy from the Xi’an Jiaotong University in 1999.

FULL DESCRIPTION

WSP Holdings Limited (WSP Holdings), incorporated on November 16, 2006, is a holding company and conducts all of its operations through its subsidiaries in China. The Company is a manufacturer of seamless oil country tubular goods (OCTG), including casing, tubing and drill pipes used for oil and natural gas exploration, drilling and extraction. It sells its products in both domestic and international markets. In China, the Company target sales of its products primarily at Chinese oil companies. In the international markets, the Company has established an overseas customer base, covering oilfields in North and South America, the Middle East, Asia, Africa and Russia. Its product portfolio can be divided into two categories: API products and non-API products. The Company has developed nine series of non-API products. In addition to its seamless OCTG products, it also sells green pipes to its customers upon request. In January 2012, the Company disposed of its entire 51% equity interest in Chaoyang Seamless.

As of December 31, 2011, the Company’s key operating assets included 18 threading lines and two drill pipe production lines with an aggregate annual production capacity of approximately 1,394,000 tons of seamless OCTG. In addition, it has five production lines with an aggregate annual production capacity of 1,430,000 tons for the manufacturing of green pipes, which are semi-finished pipes that can be further processed into end-products. It has expanded its hot-rolling OCTG pipe production capacity and pipe threading capacity with the construction of production facilities in Houston, Texas and Thailand and additional production facilities in China. Casing is a large-diameter pipe that lines the wellbore. Casing is used to prevent the wall of the wellbore from collapsing and allows drilling fluid to circulate and extraction to take place.

Tubing is a pipe used for the transportation of crude oil and natural gas from the oil or gas layer to the surface after drilling has been completed. Tubing must be made to withstand the pressure generated from the extraction process. Drill pipes are steel tubes fitted with threaded ends and are used to connect the rig surface equipment with the bottomhole assembly. Drill pipes are also used to transport drilling fluid to the bit and to raise, lower and rotate the bottomhole assembly and the bit. It also produces line pipes, also known as liners, which are a special type of casing pillar that extends to the wellhead. Line pipes can be divided into drilling liners and oil extraction liners. The Company also produces green pipes, which are semi-finished pipes that it further processes into its end-products.

The Company competes with Tianjin Pipe (Group) Corporation, Shanghai Baosteel Group Corporation, Pangang Group Chengdu Iron & Steel Co., Ltd., JFE Steel Corporation, US Steel, Tenaris, Vallourec & Mannesmann Tubes, TMK and Sumitomo.