Anton Oilfield Announces Strategic Framework & 2013 Strategy Update
Enhance Integrated Services Capabilities with Stronger Regular Services to
Boost Fast Growth
HONG KONG, Jan. 22, 2013
HONG KONG, Jan. 22, 2013 /PRNewswire/ -- Anton Oilfield Services Group ("Anton
Oilfield" or the "Group", HKEx stock code: 3337), the leading independent
oilfield services provider in China, is pleased to announce its strategic
framework and 2013 strategy update which details the Group's strategic
highlights in the areas of markets, products, strategic resource alignment and
financial management. Toboost fast growth and long-term development, the
Group will push ahead with the strategic management and control system that
fully aligns corporate management with the setting up and fulfillment of
strategic objectives so as to ensure the Group's fast and sustainable growth.
Drive Dual Growth Engines - Domestic Natural Gas and Overseas Markets
In the domestic market, favorable policies in natural gas were introduced one
after another, exploration and production (E&P) activities went up
substantially, and the Group expects the domestic E&P market to go through
further opening. Meanwhile, unconventional gas will remain a spotlight in E&P
investment. This year, Anton Oilfield continues to place a strong emphasis on
natural gas business with a particular focus on unconventionals and further
consolidate its leading market position in the Tarim, Erdos and Sichuan
basins. The Group will also forge strategic partnership with and supplement
the service capacity of state-owned oilfield services companies as a key
business development strategy.
In the overseas market, thanks to the accelerated E&P spending of Chinese
investors, technical services demand in the overseas market remains robust.
The Group will adhere to the "follow-up" strategy and strengthen the position
in existing markets, further increasing business volume in the Middle East
region, making every effort to push ahead with the Latin American market
strategy, while starting cooperation with other national oil companies.
Strengthen Service Capacity for Regular Services; Continue to Drive Integrated
Anton Oilfield will strengthen the construction of service capacity targeting
regular markets and enhance its integrated service capabilities. In 2013, the
Group's five star services comprise oil-based drilling fluid and directional
drilling services under the drilling technology cluster, and horizontal well
multistage fracking, pressure pumping and coiled tubing services under the
downhole operation cluster.
The product development highlights are detailed as follow:
In the drilling technology cluster, the Group will promote integrated services
to boost the demand for single services, grow the drilling turnkey business
through the addition of land rigs, strengthen the service capacity of
directional drilling so as to achieve self-sufficiency in directional drilling
apparatus, and broaden the application of oil-based drilling fluid service in
extended regions and markets. As for the well completion cluster, the Group
will accelerate the construction of Tianjin well-completion tools testing,
experiment and assembly base, and strengthen building of self-sufficiency
capacity. In the down-hole operations cluster, the Group will maintain its
market leadership position in multistage fracking services and promote new
fracking techniques along with their applications, continue to invest in
pressure pumping equipment to enhance its service capacity, continue to invest
in coiled tubing equipment and develop new techniques, and promote
self-developed new materials and chemical products. In the tubular services
cluster, the Group will invest in leasing resources and vigorously develop the
leasing business, while enhancing testing and repairing capabilities.
Facilitate Strategic Resource Alignment
The Group will make every effort to strengthen strategic resource alignment to
support the achievement of its fast-growth target.
In human resources, the Group will construct its strategic human resource
framework based on the "Talents First" strategy to support the business'
sustainable growth. This year, Anton Oilfield will recruit a large number of
graduates and train them as well-site engineers at faster pace, aiming to
provide a solid backup for the Group's site operations. As for management
talents, the Group will actively recruit top-notch talents with international
experience in core areas and strengthen the identification and training of
potential management candidates.
In capital expenditure allocation, the Group will continue to invest in
pressure pumping equipment, directional drilling equipment and coiled tubing
equipment, and make appropriate investment in land rigs to propel rapid
development in turnkey drilling business. In the meantime, the Group will look
for M&A and partnership opportunities that fit in the Group's integrated
business strategy which may expand the product line, enhance in-house capacity
or provide access to new markets. For R&D investment, the Group will conduct
targeted R&D in major technology applications.
Achieve Fast Growth in Revenue and Stable Profitability
Anton Oilfield will continue to develop new product services and explore new
markets to achieve fast growth in revenue, and stable profitability through
strengthened cost control and enhanced efficiency. In addition, the Group
will utilize different debt financing channels including medium-term notes,
supply chain financing and financial leasing to provide adequate sources of
capital for the Group's business development.
Anton Oilfield Chairman,Mr. LUO Lin said, "In 2013, we will continue to
strengthen the construction of regular service capacity, including pressure
pumping in downhole operations and drilling services; further enhance our
in-house capacity and cost competitiveness through R&D and investment in
resource alignment; focus on forging strategic alliances from the market
development perspective; and stick to our Talents First strategy to accomplish
successful execution of our pre-defined strategy."
The presentation slides of the Company's strategic framework and 2013 strategy
update is available at www.antonoil.com.
About Anton Oilfield Services Group
Anton Oilfield Services Group (HKEx stock code: 3337) is a leading independent
oilfield services provider offering one-stop oil and gas field technical
development services to oil companies. Its services and solutions span across
the drilling technology, well completion, downhole operation, and oil
production phases in the development cycle. Its fast growth benefits from the
accelerated development of natural gas in China and the Group's increased
presence in the overseas markets. At the same time, Anton Oilfield is
committed to continuously strengthening its R&D capabilities and making
additions to its talent reserves. The Group's strategic objective is to become
a global oilfield services provider with a solid foothold in China.
Anton Oilfield is headquartered in Beijing with sales offices and operations
bases across China's major onshore oil and natural gas basins. The Group also
has an international headquarters in Dubai with an extensive network across
the Middle East, Central Asia, Africa, and Americas.
SOURCE Anton Oilfield Services Group
Contact: Hill+Knowlton Strategies, Alman Loong, (852) 2894 6200,
email@example.com; Cindy Shi, (852) 2894 6372,
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