Antonoil Wins Contract for Tight Oil Development in China

Anton Oilfield Services Group (Antonoil), an independent oilfield services provider in China, has won a bid for the provision of tight oil development services covering horizontal well drilling and fracturing integration for two well projects in northwestern part of the country.

The contract value is estimated to stand at approximately RMB53 million ($8.5 mn).

The awarding of this service order follows a similar contract win involving horizontal well open hole multi-stage fracturing services for another tight oil development project in the Sulige area in Erdos in the previous month, Antonoil said in a statement Tuesday.

“It has been noted that in the last two years, a growing number of oilfields in China, especially old oilfields, have turned to unconventional oil and gas technology for tight oil development, achieving breakthroughs as a result. The tight oil development services market is set for explosive growth in the years to come as some of which, that started off as pilot projects, bear fruit,” the company stated.

The company believes that the outlook for the application of unconventional oil and gas technology for tight oil development in old oilfields in China is promising.

“With more and more oilfields ready to employ unconventional oil and gas technology in tight oil development, the Group is positive about winning more projects in China this year,” Antonoil said.