HONG KONG, Dec. 1, 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 strategic cooperation agreement with Shanghai Pudong Development Bank Beijing Branch ("SPDB Bank Beijing Branch"). Pursuant to the agreement , SPDB Bank Beijing Branch will provide professional support and financing facilities, including conventional business, asset securitization, cross-border settlement, bond financing and equity transactions to the Group. The financing level is tentatively set at RMB 2 billion with one-year validity, the exact financing level and mutual agreement terms will be confirmed upon approval by the internal credit department of the bank with endorsement on credit level arrangements at both sides. It will be extended automatically for one year without frequency restriction if there is no objection. The Board of Directors of the Group believes that the strategic cooperation with SPDB Bank Beijing Branch will be supportive of the Group's operations and business development, in addition to rendering effective assistance to the Group's cash management and capital arrangement. Amid the rebound in international oil prices and market recovery, the Group's order projects in hand have been fully launched while working capital of the Group will be replenished by financing support from commercial banks, giving a boost to rapid business development and driving the Group back to growth track.