HONG KONG, July 10, 2014 /PRNewswire/ — Anton Oilfield Services Group (“Antonoil” or the “Group”, HKEx stock code: 3337), the leading independent oilfield services provider in China, is pleased to announce that a new Production Operation Service contract of the Group in Iraq has entered stable operations since billing started in this month. This project involves daily maintenance and management by Antonoil for a newly built Central Processing Facility (CPF) in an oilfield in southern Iraq, at a contract value of nearly USD20 million for an effective period of three years. It is the second CPF project serviced by Antonoil in Iraq. Furthermore, the Group has successfully renewed the contract of its first CPF project for another three years, also at a value of nearly US$20 million.
CPF operation service is part of Antonoil’s Production Operation Service and its price is based on the number and seniority of technical professionals Antonoil commits to the project. Winning the new project is a testament to customer recognition of Antonoil’s Production Operation Service, presenting vast room for growth. Meanwhile, Production Operation Service is one of the oil production services required when an oilfield enters the production phase and is characterized with stable revenue and higher visibility. In the last two years, Antonoil has been committed to growing the product lines under its oil production services required in the production phase. The Group’s increased capacity and growing contract volume underscores that Antonoil’s oil production services are now gaining scale.
About Anton Oilfield Services Group
Anton Oilfield Services Group (HKEx stock code: 3337) is a leading independent integrated oilfield services provider. The Group provides products and services for the entire process of oil and gas development and production, including reservoir management, drilling technology, well completion, down-hole operations, oil production as well as tubular service. With its comprehensive product lines and integrated service capacity, the Group is empowered to help oil companies solve their challenges of increasing production, improving drilling efficiency, lowering costs and optimizing waste management. Its fast growth benefits from the accelerating development of natural gas in China and the Group’s increased presence in the overseas markets. The Group’s strategic objective is to become a leading global oilfield services provider with a solid foothold in China.
The Group is headquartered in Beijing and has established an international network across China and overseas markets. In China, the markets cover the Tarim area, Erdos area, Southwest area and other areas of China, whereas, the overseas markets include Iraq and other Middle East market, Central Asia and Africa market and the Americas market. Antonoil is the best independent Chinese oilfield services partner, the best Chinese partner worldwide.
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