Workover Service of Antonoil's Production Operation Services Commences Operation - MSNewsNow.com - Jackson, MS

Workover Service of Antonoil's Production Operation Services Commences Operation

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SOURCE Hill And Knowlton Asia Limited

HONG KONG, June 11, 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 today the commencement of operation in its first workover service project under Production Operation Services. The project, located in the Tarim Basin, involves the replacement of string in the client's water-injection well to restore its operations.

Antonoil's Production Operation Service addresses the service needs for production maintenance in oilfields with wells in production after drilling and well completion, which includes resolving various production problems that occur in wells during the operation of an oilfield such as the failure of downhole tools and the blockage of downhole channels.

Antonoil started to build its workover service capacity this year through investing in related equipment and assembling teams. It obtained the operation license at the end of March, and after about two months of preparation, passed client inspection and commences operation today.

The service fees charged for this workover project are part of the client's operating expenses. This indicates that the Group's services have expanded from tapping the clients' CAPEX to also capturing the clients' OPEX. In addition, compared with services needed in the development phase of an oilfield, the services required after a field enters the production stage are more constant and stable. The setup and operation of Antonoil's workover service signal the Group is further stepping up its service capacity built for the production stage of oilfield operations, a move that is constructive to providing stable and long-term revenue stream to the Group.

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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 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.

For enquiries, please contact:-

Hill+Knowlton Strategies

Eric Song                                                                                             

Ka Wai Li

Direct: (852) 2894 6264                                                                  

Direct: (852) 2894 6252

Email: eric.song@hkstrategies.com                   

Email: kawai.li@hkstrategies.com

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