Gelonghui, January 19 | Anton Oilfield Services (03337.HK) announced operating conditions for the fourth quarter of 2023 and outlook for the first quarter of 2024. In the fourth quarter, the external environment was complex and varied, the global economy stagnated, and industrial production was sluggish, putting downward pressure on oil prices. OPEC countries continue to implement production reduction measures to stabilize oil and gas supply. Meanwhile, the conflict between Israel and Palestine continues to escalate, causing the market to worry about the oil and gas supply prospects under geopolitical influence. During the quarter, the Group continued to step up efforts to develop advantageous overseas markets and achieve new breakthroughs in order acquisition. At the same time, it continued to strengthen cash flow management and make every effort to achieve business goals throughout the year.

In the fourth quarter, the Group added orders of about RMB 1,529.3 million, an increase of 56.7% over the same period last year. Among them, the Chinese market added orders of about RMB 513.4 million, an increase of 29.7% over the same period last year; the Iraqi market added orders of about RMB 829.1 million, an increase of 71.9% over the same period last year; and new orders from other overseas markets were approximately RMB 186.8 million, an increase of 91.3% over the same period last year.

In the Chinese market, with reservoir geology research as the core, the Group's precision engineering technology won a number of unconventional oil and gas field development service orders, including integrated engineering turnkey, optical fiber monitoring, and continuous pipeline obstetric monitoring projects. In terms of products in the new business format, the Group has received orders for projects such as non-destructive testing, oil casing inspection, drilling tool rental, and chemical sales.

Overseas markets, Iraq, the Group received a five-year integrated operation and maintenance super order based on its excellent operating record and rich experience in the oilfield management business; in addition, the Group also won orders for projects such as oil field supervision and supervision, driving the Group's new orders in Iraq to increase 71.9% year-on-year during the quarter; in other overseas markets, the Group's new asset leasing business achieved another breakthrough and won the bid for a compressor leasing service project in the Southeast Asian and Indonesian market. Furthermore, in the West African market, the Group successfully won bids for drilling rig service projects in Chad and completion tool sales projects in Algeria.

As of December 31, 2023, the Group's current orders were approximately RMB 10,000.7 million. Among them, on-hand orders in the Chinese market were approximately RMB 5,391.0 million, accounting for about 53.9% of the Group's total on-hand orders; the Iraqi market's on-hand orders were approximately RMB 3728.7 million, accounting for 37.3% of the Group's total on-hand orders; and orders in other markets were approximately RMB 881.0 million, accounting for 8.8% of the Group's total on-hand orders.