China's Anton Oilfield wins oil-based fluid orders for Tarim basin ultra HPHT wells
HONG KONG -- Anton Oilfield, a leading independent oilfield services provider in China, announced that Anton Oilfield Services has, upon winning a tender, signed a contract to provide oil based drilling fluid services for five ultra high-pressure, high-temperature conventional natural gas wells in the Tarim basin operated by PetroChina. Pursuant to the contract, the average contract value for each job stands at approximately $1.44 million.
The successful tender marks the second awarding of such contract following the Group's announcement made on July 16, 2012 of winning 8-10 jobs of oil-based drilling fluid service in the same region, and the terms remained broadly identical. According to Anton, the jobs that have been completed by the Group to date generated excellent outcome evidenced by the noticeably reduced complexity in downhole operations, shortened drilling lead time and additional cost savings for the customer.