Antonoil's Pressure Pumping Service Enters Phase of Regular, Large-Scale Operation

HONG KONG, June 16, 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 the Group begins the operations of Pressure Pumping Service simultaneously for two wells in Erdos Basin in the provision of integrated stimulation solutions, both using horizontal oil well technologies to develop the low-efficiency unconventional oil and gas resources. Apart from providing Pressure Pumping Service, the Group also provides downhole tools and fluids to enable integrated stimulation solution. Antonoil has so far secured 18 Pressure Pumping Service contracts in Erdos Basin, all of which are framework contracts with fixed prices and a ceiling for contract volume, pursuant to which clients will notify the Group to begin operations according to the progress of their projects.

Since 2012, Antonoil has been building up the capacity for its Pressure Pumping Service and, to date, has established a capacity of 102,000 HHP. Securing the above contracts and the successful commencement of operations signal that the Group's Pressure Pumping Service has entered a phase of regular, large-scale operation. Meanwhile, both of the wells in pressure pumping operation this time involve integrated stimulation solution, illustrating that Antonoil's Pressure Pumping Service can drive the demand for other services of the Group.

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.

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SOURCE Anton Oilfield Services Group