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The oil exploitation equipment developed by Shaoxing-based Myway Electric Motor Technology (Shaoxing) Co Ltd. [Photo/zjol.com.cn]

The oil exploitation equipment developed by Shaoxing-based Myway Electric Motor Technology (Shaoxing) Co Ltd is likely to revolutionize traditional oil exploitation techniques, according to local media outlets on May 28.

"Traditional equipment pumps oil, while the working principle of ours is to propel oil from below the ground," said Jiang Shijie, an 81-year-old expert in electromechanical studies.

According to Jiang, this set of equipment has been working in the Shengli Oil Field in Shandong province for more than 900 consecutive days.

Jiang explained that the equipment will not generate noise and pollutants on the ground.

Tian Jianjun, chief executive of an oil exploitation station at Shandong Shengli Oil Field, said that the equipment will be installed at an additional three oil wells, which had been left unused for years.

"This is our third-generation product. All of the data generated by the equipment has become more stable following two years of trials," said Ma Yunjun, deputy general manager of Myway Electric Motor. "In the future, we will promote this product to a wider market."

This kind of equipment has now been deployed in Shandong province, as well as Ningxia Hui and Inner Mongolia autonomous regions.

According to Tian, their company is currently negotiating with Russian and Kazakhstan oil and gas companies for cooperation.