HONG KONG, Nov. 3, 2016 /PRNewswire/ -- Anton Oilfield Services Group ("Antonoil" or the "Group", HKEx stock code: 3337), the leading independent oilfield services provider in China, is pleased to announce that the Group has entered into a profound technical cooperation agreement with Flotek Chemical, LLC ("FLOTEK"). Pursuant to the agreement, FLOTEK will authorize the Group an exclusive cooperative right on its core CnF ® technology. The cooperation territories cover China and overseas markets where the Group enjoy market advantages, with substantial promotion on product sales. On the collaboration front, FLOTEK will provide its core technology, and the Group will be responsible for the on-site technical promotion and value-added services. Meanwhile, both parties are open to further and overall collaboration in the field of other products. The validity of the agreement stands at three years, which will be extended upon expiration if the collaboration moves smoothly. At the same time, Mr. John William Chisholm, Chairman of the Board of FLOTEK, has been appointed as a Non-executive Director of the Group. FLOTEK is an oilfield technology service company in the United States. Its core Nano-stimulation technology has made sustainable development these years as an advanced technology in the U.S. market. It has achieved good performance in the shale gas and other unconventional markets in particular. As a fluid additive in oilfield stimulation process, this technology has facilitated excellent improvement for stimulation efficiency. The core material involved in the technology is limonene, and FLOTEK is the largest producer of limonene in the United States. As the chairman of FLOTEK, Mr. Chisholm's joining of the Board of Antonoil will help drive the Group's technical cooperation with FLOTEK. He is also expected to play a key part in the international technical cooperation and strategic development of the Group. Prior to the formal signing of the agreement, the Group and FLOTEK have already joined forces in promoting the technology in the target markets and have received good applying needs from clients. This cooperation will not only solidify the overall development of the Group's chemical product line but will also bring a breakthrough in the Group's revenue growth. On the other hand, leveraging Antonoil's market network, the cooperation will help lower FLOTEK's marketing costs and expand its income source.