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 organizations are moving to the cloud in hopes to approve efficiency, increase agility and save money. Migrating workloads might seem like a simple task, but what many businesses don’t realize is that application migration criteria differs across organizations, making it difficult for architects to arrive at an accurate TCO number. In his session at 21st Cloud Expo, Joe Kinsella, CTO of CloudHealth Technologies, will offer a systematic approach to understanding the TCO of a cloud application...
Connecting to major cloud service providers is becoming central to doing business. But your cloud provider’s performance is only as good as your connectivity solution. Massive Networks will place you in the driver's seat by exposing how you can extend your LAN from any location to include any cloud platform through an advanced high-performance connection that is secure and dedicated to your business-critical data. In his session at 21st Cloud Expo, Paul Mako, CEO & CIO of Massive Networks, wil...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Secure Channels, a cybersecurity firm, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Secure Channels, Inc. offers several products and solutions to its many clients, helping them protect critical data from being compromised and access to computer networks from the unauthorized. The company develops comprehensive data encryption security strategie...
An increasing number of companies are creating products that combine data with analytical capabilities. Running interactive queries on Big Data requires complex architectures to store and query data effectively, typically involving data streams, an choosing efficient file format/database and multiple independent systems that are tied together through custom-engineered pipelines. In his session at @BigDataExpo at @ThingsExpo, Tomer Levi, a senior software engineer at Intel’s Advanced Analytics ...
Cloud adoption is often driven by a desire to increase efficiency, boost agility and save money. All too often, however, the reality involves unpredictable cost spikes and lack of oversight due to resource limitations. In his session at 20th Cloud Expo, Joe Kinsella, CTO and Founder of CloudHealth Technologies, tackled the question: “How do you build a fully optimized cloud?” He will examine: Why TCO is critical to achieving cloud success – and why attendees should be thinking holistically ab...
yperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let’s say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it....
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
Docker containers have brought great opportunities to shorten the deployment process through continuous integration and the delivery of applications and microservices. This applies equally to enterprise data centers as well as the cloud. In his session at 20th Cloud Expo, Jari Kolehmainen, founder and CTO of Kontena, discussed solutions and benefits of a deeply integrated deployment pipeline using technologies such as container management platforms, Docker containers, and the drone.io Cl tool. H...
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyer belt between the Software Factory and production stages. Artifacts are m...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, will introduce two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
Cloud resources, although available in abundance, are inherently volatile. For transactional computing, like ERP and most enterprise software, this is a challenge as transactional integrity and data fidelity is paramount – making it a challenge to create cloud native applications while relying on RDBMS. In his session at 21st Cloud Expo, Claus Jepsen, Chief Architect and Head of Innovation Labs at Unit4, will explore that in order to create distributed and scalable solutions ensuring high availa...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...