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Anton Oilfield announces strategic framework & 2013 strategy update

Wednesday, Jan 23, 2013

HONG KONG, Jan. 22, 2013 /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 its strategic framework and 2013 strategy update which details the Group's strategic highlights in the areas of markets, products, strategic resource alignment and financial management. To boost fast growth and long-term development, the Group will push ahead with the strategic management and control system that fully aligns corporate management with the setting up and fulfillment of strategic objectives so as to ensure the Group's fast and sustainable growth.

Drive Dual Growth Engines - Domestic Natural Gas and Overseas Markets

In the domestic market, favorable policies in natural gas were introduced one after another, exploration and production (E&P) activities went up substantially, and the Group expects the domestic E&P market to go through further opening.  Meanwhile, unconventional gas will remain a spotlight in E&P investment. This year, Anton Oilfield continues to place a strong emphasis on natural gas business with a particular focus on unconventionals and further consolidate its leading market position in the Tarim, Erdos and Sichuan basins. The Group will also forge strategic partnership with and supplement the service capacity of state-owned oilfield services companies as a key business development strategy.

In the overseas market, thanks to the accelerated E&P spending of Chinese investors, technical services demand in the overseas market remains robust. The Group will adhere to the "follow-up" strategy and strengthen the position in existing markets, further increasing business volume in the Middle East region, making every effort to push ahead with the Latin American market strategy, while starting cooperation with other national oil companies.

Strengthen Service Capacity for Regular Services; Continue to Drive Integrated Service Strategy

Anton Oilfield will strengthen the construction of service capacity targeting regular markets and enhance its integrated service capabilities. In 2013, the Group's five star services comprise oil-based drilling fluid and directional drilling services under the drilling technology cluster, and horizontal well multistage fracking, pressure pumping and coiled tubing services under the downhole operation cluster.

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, downhole 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.

SOURCE Anton Oilfield Services Group

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