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TheStreet Open House

Anton Oilfield Announces Strategic Framework & 2013 Strategy Update

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.

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