Anton Awarded Service Contract with Two Rigs for Drilling Project in Southern Iraq
HONG KONG, Aug. 5, 2014 /PRNewswire/ — Anton Oilfield Services Group ("Anton" or the "Group", HKEx stock code: 3337), the leading independent oilfield services provider in China, is pleased to announce that the Group is today awarded the contract for a drilling project in southern Iraq, providing services with two rigs on a day-rate basis with the mobilization cost covered by the client. The contract, with a value of about US$50 million, is effective for a period of three years and also includes an option for an additional period of one year.
The contract of this project signifies that Anton’s Rig Service has gained recognition in the international market and expanded overseas. Its successful operation will enhance profitability for the product line of Rig Service. The Group is of the view that Rig Service has good growth prospects in Iraq. Anton will witness more market opportunities abroad as its Rig Service operates smoothly in overseas projects.
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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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Ka Wai Li
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