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Antonoil Named Preferred Bidder for $78m Iraq Deal

Source: www.gulfoilandgas.com 1/21/2016, Location: Middle East

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Anton Oilfield Services Group, the leading independent oilfield services provider in China, has received anotification from an IOC customer operating at an oilfield in southern Iraq stating that Antonoil has been named as the preferred bidder for related oil production operation and maintenance services projecton the site.In this regard, both theparties will proceed with finalizing internal approval procedures and contract signing.The contract, with an estimated value of no more than US$78 million,encompasses the provision of general maintenance services covering engineering operationand related tools for the oil production station. The project is expected to commence in the second half of 2016, with services offered spanning for a term of three years.

This secured and long-term oil production maintenance services project is destined to bring forth a steady source of income for Antonoil in the long term. The successful progression of the project signifies once again that the Group is being increasingly recognized by international oil companies for its operational capabilities in international projects, demonstratingthe Group’s strong competitiveness amid alow oil price environment and solidifying and even expanding its leading position in theMiddle East market,in particular in Iraq.With the success of the internationalization strategyat a gradual pace, the Group isconfident that It will resume its growth path and realize profitina low oil price environment.

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Related Categories: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 

Related Articles: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 


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