Petroleum Africa
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Thursday, May 21, 2015
Anton Oilfield Services Group out of China signed a contract to provide technical services, including cementing and drilling fluid services, for a project of a Chinese non-SOE investor in Ethiopia. The contract is valued at RMB200 million for an effective period of two years, among which RMB130 million of cementing services, and RMB70 million of drilling fluid services.
The project is expected to commence operation in H2 2015, and is expected to be completed in two years.
The signing of this contract signifies Antonoil’s efforts to establish strategic cooperation with Chinese non-SOE investors in overseas markets. The group’s drilling services have expanded further into new overseas markets, which will provide new impetus for its growth.
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