Click here to close now.



Welcome!

News Feed Item

Anton Oilfield Wins Additional Batch Order for Oil-based Drilling Fluid Service

Well-Developed Service with Sustainable and Stable Growth Prospects

HONG KONG, Dec. 16, 2012 /PRNewswire/ -- Anton Oilfield Services Group ("Anton Oilfield" or the "Group", HKEx stock code: 3337), the leading independent oilfield services provider in China, is pleased to announce that Anton Oilfield Services (Group) Limited ("Anton Oil"), a wholly-owned subsidiary of the Group, has, upon winning a tender, signed a contract to provide oil-based drilling fluid services for five ultra-high pressure and ultra-high temperature conventional natural gas wells in the Tarim Basin operated by PetroChina Co. ("PetroChina"). Pursuant to the contract, the average contract value for each job stands at approximately RMB 9 million.

The successful tender marks the second awarding of such contract following the Group's announcement made on July 16, 2012 of winning 8-10 jobs of oil-based drilling fluid service in the same region, and the terms remained broadly identical. The jobs that have been completed by the Group to date generated excellent outcome evidenced by the noticeably reduced complexity in downhole operations, shortened drilling lead time and additional cost savings for the customer. The Group's oil-based drilling fluid service is therefore highly regarded by the client and helped lay the foundation for mass-scale application of such technology in the Tarim Basin.

Effective Technical Solution to Fulfill Clients' Strategic Objectives in Tarim

According to a report released by the news center of PetroChina's parent company, China National Petroleum Corp. (CNPC), on May 10, 2012, PetroChina plans to increase oil and gas production at Tarim by approximately 50 percent to 30 million tons of oil equivalents in the coming three years. The geological conditions for resource development in the Tarim Basin region are extremely complicated, and the ultra-high pressure and ultra-high temperature wells in the block pose as a world challenge in drilling engineering. As a widely-adopted drilling technology overseas, oil-based drilling fluid service has distinct advantages particularly in the resistance to high temperature, ability to counter contamination and effectiveness of shortening the drilling lead time. CNPC's news center posted another report on its website on July 5, 2012, saying that the particular drilling requirements associated with the ultra-high pressure and ultra-high temperature wells and the pressing need of output expansion make Tarim one of the major target regions in China where oil-based drilling fluid service is applied. Therefore, the competitive technique fits well with the customer's requirements for strategic development in this region, and the demand for this service is subsequently expected to increase vigorously.

Major Player in Market with Robust Momentum

The Group views oil-based drilling fluid service as an effective technical support to the exploration and development activities taking place in the Tarim Basin, boding vast market potential. As such, the Group started promoting oil-based drilling fluid service in the region this year, applying the technical service to a limited number of wells on a trial basis, and in the meantime rapidly constructed an oil-based drilling fluid recycling plant required by the application of such technology. The Group subsequently won a tender to provide batch order oil-based drilling fluid service to 8-10 wells in the Tarim Basin. The jobs that have been completed by the Group to date were highly regarded by the customer, having generated excellent outcome evidenced by noticeable enhancement in operational performance, so the customer awarded a second batch order to the Group, proving that the oil-based drilling fluid service introduced by the Group this year has become a well-established business segment with stable and sustainable growth outlook. That also reinforces the Group's market position in this region, reassuring a long-term development of the Group's oil-based drilling fluid service business in the Tarim Basin. Owing to the particularly complicated geological conditions in the Tarim Basin, oil-based drilling fluid service applied in this region represents the top-notch technical standard of such service adopted nation-wide. The success experience and service ability of applying this technology accumulated by the Group in the Tarim Basin provides a concrete foundation for the proliferation of the Group's such service into an even broader market in other regions.

About Anton Oilfield Services Group

Anton Oilfield Services Group (HKEx stock code: 3337) is a leading independent oilfield services provider offering one-stop oil and gas field technical development services to oil companies. Its services and solutions span across the drilling technology, well completion, down-hole operation, and oil production phases in the development cycle. Its fast growth benefits from the accelerated development of natural gas in China and the Group's increased presence in the overseas markets. At the same time, Anton Oilfield is committed to continuously strengthening its R&D capabilities and making additions to its talent reserves. The Group's strategic objective is to become a global oilfield services provider with a solid foothold in China.

Anton Oilfield is headquartered in Beijing with sales offices and operations bases across China's major onshore oil and natural gas basins. The Group also has an international headquarters in Dubai with an extensive network across the Middle East, Central Asia, Africa, and Americas.

SOURCE Anton Oilfield Services Group

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, will give users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion w...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
SYS-CON Events announced today that FalconStor Software® Inc., a 15-year innovator of software-defined storage solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. FalconStor Software®, Inc. (NASDAQ: FALC) is a leading software-defined storage company offering a converged, hardware-agnostic, software-defined storage and data services platform. Its flagship solution FreeStor®, utilizes a horizonta...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
SYS-CON Events announced today that (ISC)²® (“ISC-squared”) will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Two leading non-profits focused on cloud and information security, (ISC)² and Cloud Security Alliance (CSA), developed the Certified Cloud Security Professional (CCSP) certification to address the increased demand for cloud security expertise due to rapid growth in cloud. Recently named “The Next...
The Art of DevOps provides a fun overview to help teams understand DevOps. Written in the style of the famous 6th century Chinese manuscript “The Art of War,” this eBook describes DevOps in the form of a mission to continuously deliver assets to the operational battlegrounds safely, securely, and quickly. It’s a fun read with valuable insights.
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.