HONG KONG, Oct. 11, 2016 /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 to date, the Group's five sets of drilling crews have become fully operational following nearly a year's inactivity in domestic markets. Of which, four sets of drilling crews are put into service in Erdos natural gas district while the remaining set of drilling crew is deployed in East China district. Looking ahead into 2017, expected CAPEX in natural gas development projects in Erdos market will have recovery increase with strong recovery sign, all drilling projects of the Group are expected with continuous workloads. The surge in demand in the market of Erods will also exceed the Group's service capacity.
The recovery in the domestic drilling markets and the full operation of Anton's drilling crews will help improve overall facility utilization group-wise. The Group will strive to promote high-quality and efficient implementation of the projects, while continuing to take advantage of the integrated services driven by the drilling services to cross promote other product lines (such as the directional drilling services, cementing services and drilling fluid services) in a synergistic way. The Group will also continue to capitalize on market opportunities in a bid to further improve facility utilization and increase revenue.
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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 integrated services, drilling technology, well completion, oil production as well as tubular services. The Group has established an international network across China and overseas markets, providing products and services in 14 countries including China and those in the Middle East, Central Asia and Africa area and America. With its comprehensive product lines and integrated service capacity, the Group is empowered to help oil companies solve their challenges in increasing production, improving drilling efficiency, lowering costs and optimizing waste management. Its fast growth benefits from China's advantages in natural resources and the Group's increased presence in overseas markets. Anton Oilfield is the best independent Chinese oilfield services partner, the best Chinese partner worldwide. The Group's strategic objective is to become a leading global oilfield services provider with a solid foothold in China.
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SOURCE Anton Oilfield Services Group