Antonoil Wins New Technical Services Project in Ethiopia

May 19, 2015, 08:26 ET from Anton Oilfield Services Group

HONG KONG, May 19, 2015 /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 has signed the contract today for providing technical services, including cementing and drilling fluid services, for a project of a Chinese non-SOE investor in Ethiopia at a contract value totaling approximately RMB200 million for an effective period of 2 years, among which RMB130 million of cementing services, and RMB70 million of drilling fluid services. The project is expected to commence operation in the second half of 2015, and shall be completed in two years.

The signing of this contract signifies Antonoil's efforts to establish strategic cooperation with Chinese non-SOE investors in overseas markets. The Group's drilling services have expanded further into new overseas markets, which will provide new impetus for its growth.

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 in 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 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, its markets cover the Tarim area, Erdos area, Southwest area and other areas of China, whereas, its overseas markets include Iraq and other Middle East market, Central Asia and Africa market and the Americas market. Anton Oilfield is the best independent Chinese oilfield services partner, the best Chinese partner worldwide.

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SOURCE Anton Oilfield Services Group