Jun 16 2014
Anton Oilfield Services Group ("Antonoil" or the "Group", HKEx stock code: 3337), the leading independent oilfield services provider in China, is pleased to announce that as at June 13, the Group's production line for ceramic proppants, a critical fracturing material, has been operating smoothly for two months, a testament of the stability and reliability of this production line's operation and the quality of its product.
Antonoil started to produce its first batch of low-density ceramic proppants on April 13, and the first batch of high-density, high-strength ceramic proppants on June 8. The products are of leading quality in China with some indicators even surpassing those of the ceramic proppants produced by the world's two leading suppliers. Antonoil plans to continue the operation of the production line for continuous production from now on.
Ceramic proppants, a vital consumable in the fracturing of oil and gas wells, is used to hold fractures open in oil formation in order to create permeable channels for oil and gas to flow freely to the surface. Its quality and performance plays an important role to provide higher stimulation performance. Antonoil began to invest in and construct its Ceramic Proppant production line in 2012, bringing in equipment and talents that are of the highest standard in the world and installed in accordance with the highest international standards of environmental protection. First-phase production capacity is expected to reach 50,000 tons. The completion and stable operation of the production line indicates that Antonoil has become the first Chinese company with the capabilities to supply ceramic proppants that reach the most superior quality and performance by world standard. The products will mainly be sold to the domestic high-end market and international markets.
The operation of the production line also means Antonoil has established a more complete value chain in fracturing, enabling it to create synergies with the Group's other stimulation services.
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.
Source: http://www.antonoil.com/