Antonoil secures tight oil development services contract in China

Anton Oilfield Services Group (Antonoil), an independent oilfield services provider in China, reported June 9 that the Group has won a bid for the provision of tight oil development services today covering horizontal well drilling and fracturing integration for two well projects in northwestern China. The contract value is estimated to stand at approximately $8.5 million (CNY 53 million).

The awarding of this service order follows a similar contract win involving horizontal well openhole multistage fracturing services for another tight oil development project in the Sulige area in Erdos in the previous month.

This year thus far, Antonoil has continued to win bids for tight oil development services using unconventional oil and gas technology in new tight oil development services markets in a service area covering both eastern and western China and spanning from horizontal well drilling, well completion, and multistage fracturing. During the year, in the new tight oil development services markets, the Group’s newly increased orders for tight oil development services have added up to $19.3 million (CNY 120 million).

It has been noted that, in the last two years, a growing number of oil fields in China, especially old oil fields, have turned to unconventional oil and gas technology for tight oil development.

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