Antonoil Commences Mobilization and Operations at Awarded Drilling Projects in Erdos Basin
HONG KONG, July 14, 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 the Group commences mobilization and operations of two drilling rigs in Erdos Basin. Through a centralized tender run by a client in the Erdos area early in the year, Antonoil won two annual contracts for these two drilling rigs, both were framework contracts with fixed prices and a ceiling for contract volume. According to the contracts, the client would notify the Group to begin operations according to the progress of their projects.
The commencement of the operations means such rigs have attained the client’s notification and entered into normal and continuous operation, ensuring the Group’s investments in drilling rigs receive relatively stable job orders. The winning of bids for the Group’s Rig Service and the commencement of the drilling operations will enhance the Group’s market influence in the Erdos area and have a positive impact on promoting its other businesses in the region.
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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