(Hong Kong,13 May 2024) Anton Oilfield Services Group ("Anton" or the "Group"; HKEX Stock Code: 3337), the leading independent oilfield technical services provider in China, is pleased to announce that the Group has successfully won the bid for the development right of Dhafriyah oilfield in Iraq for a development period of 25 years in the supplementary fifth and sixth rounds of oilfield block tender.

The tender for the blocks was held under the auspices of the Prime Minister of Iraq, Mohammed Shia al-Sudani. The tender included 29 blocks in 12 provinces of Iraq and attracted 22 oil companies including Shell, BP, Lukoil, PetroChina, Sinopec and United Energy to participate in the bidding process. The Group successfully won the bid for the development right of Dhafriyah Oilfield. The Dhafriyah oilfield is located in Wasit Province, Iraq, with a block area of 368 square kilometers. The block has relatively low risk, high reserve realization and good development potential and economic value

As an integrated oilfield technical services company, Anton has always been committed to providing first-class oilfield technical services to global oil company customers, helping oil company customers improve resource development efficiency and maximize asset value. This participation in the development of this oilfield block is also based on this original intention. The project is essentially a turnkey contract of oilfield technical services. Anton will help customers realize the efficient development of oilfield resources by providing comprehensive solutions for the sustainable development of future oil companies.The Group will firmly implement its development strategy as a technical services company, and its long-term strategic goal of becoming an innovative and world-leading integrated oilfield technical services company will not change.

In this round of block bidding process, the Group adopted differentiated business strategy to avoid direct competing with oil company customers. The Group fully leveraged its own advantages, actively participated in and proactively covering positions. It was committed to make contributions to the efficient development of oil and gas resources in Iraq. At the same time, the Group always adheres to strong risk management and control. In the selection of blocks, the Group selected the more mature appraisal development blocks rather than exploration blocks, and selected blocks with lower risks, stepped away from high risk areas. In addition, the Group always adheres to the asset-light business development model, and the Group will leverage on and organize its resources through  the platform-based operation model to jointly promote the high-quality development of this oilfield block with its ecological partners.

The winning of this oilfield development block project marks a key step for the Group in the field of oil and gas development and opens a new milestone in the development of its business in Iraq. The Group believes that the new business expansion will give new impetus to the Group’s scaled growth. The Group will continue to adhere to asset-light development, cash flow operation, continuously upgrade and make breakthroughs, and make solid strides towards the strategic objective of becoming an innovative global leading integrated oilfield technical services company.

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About Anton Oilfield Services Group

Founded in 1999 and listed on the Hong Kong Stock Exchange in December 2007, Anton Oilfield Services Group(HKEX Stock Code: 3337) is an innovative and globally leading integrated oilfield technical services company. We provide a full range of products and technical services for oil and gas development, actively promote high-tech research and development of oilfield service technologies, and provide tailor-made and all-rounded solutions for the diverse needs of oilfield customers and for the sustainable development of the oil and gas industry in the future. Our business covers more than 30 countries and regions, mainly emerging market countries such as China, Iraq, Chad and Kazakhstan, forming a rapid response global service support system.