Anton Oilfield Services (03337) added orders of 1,487 billion yuan in the third quarter, up 48.2% year-on-year

According to the Zhitong Finance App, Anton Oilfield Service (03337) issued an announcement. In the third quarter, international geopolitical tension once again escalated, regional uncertainty continued to increase, but the overall economy maintained a slow growth trend. During the quarter, the international crude oil market was balanced, and international oil prices remained high. At the same time, demand for natural gas grew strongly, and global oil and gas development continued to be active.

Facing the new situation, the Group continues to penetrate the global oil and gas emerging markets and comprehensively develop new ones. During the quarter, the Group further launched gas localization industry chain solutions for emerging market countries to promote the efficient commercial application of natural gas in the regional market, drive local economic development, and benefit the local community, and provide customers with integrated resource development, treatment and application solutions. During the quarter, the Group's new orders continued to grow rapidly, and major projects maintained steady, high-quality operation, which strongly guaranteed the achievement of the Group's business goals throughout the year.

In the third quarter, the Group added orders of RMB 1,487 million (same unit), an increase of 48.2% over the same period last year. Among them, the Iraqi market added orders of about 500 million yuan, an increase of 30.6% over the same period last year; orders from other overseas markets increased by about 352 million yuan, a significant increase of 91.9% over the same period last year; and the Chinese market added orders of about 635 million yuan, an increase of 45.4% over the same period last year.

Overseas markets, Iraq, the Group received a number of large orders during the quarter, including supervision and supervision service projects, oil field central processing plant automation and intelligent construction service projects, northern oil field operation and maintenance services, etc., which increased 30.6% year on year; in other overseas markets, the Group's integrated oilfield development and management project in Chad, Africa was successfully renewed for more than two years, and sales orders for completion tools were obtained in the Indonesian market. The number of new orders increased sharply by 91.9% year on year.

In the Chinese market, the Group continues to seek the launch of new high-quality projects. It won orders for coalbed methane fracturing technology service projects, underground operations projects, and gas seal inspection projects during the quarter. Furthermore, the Group once again expanded production for natural gas treatment projects in the southwest region. During the quarter, new orders in the Chinese market increased by 45.4% compared to the same period last year.

During the quarter, the Group insisted on lean operations and delivered to customers with the highest operational quality. In the Iraqi market, the Group's operating projects all operated smoothly and efficiently. Among them, the Group completed Iraq's first continuous pipeline drag fracturing test well in the southern oil field, and completed all 29 stages of construction in one trip, setting a new record for the highest number of segmented fracturing stages in Iraq. The Defrui Oilfield, which won the bid of the Group in the second quarter, successfully completed the contract signing and first site survey; in other overseas markets, the Group successfully completed the customer's well completion service in the Central Asia block; in the Chinese market, the Group achieved new breakthroughs in many businesses. A well in the southwest region set the highest record for the highest single-trip drilling scale in the same block, and the inspection service was a complete success in the ultra-high-definition two-way ultrasonic inspection operation of the refined oil pipeline. The Group will adhere to the aim of creating the ultimate beautiful experience for customers and solidly promote the high-quality and efficient execution of projects in various markets.

As of September 30, 2024, the Group's on-hand orders were about 13.044 billion yuan, of which the Iraqi market's on-hand orders were about 5.187 billion yuan, accounting for 39.8% of the Group's total on-hand orders, other markets were about 1,267 billion yuan, accounting for 9.7% of the Group's total on-hand orders, and the Chinese market had on-hand orders of about 6.59 billion yuan, accounting for about 50.5% of the Group's total on-hand orders.

In the third quarter, in order to accelerate the efficient operation of global business, the Group continued to improve the global organizational mechanism, optimize and upgrade the human resources system, and accelerate the informatization and digital transformation of human resources. At the same time, we will strengthen the recruitment and training of global leaders, search for outstanding global talents, coordinate business globalization and innovative development to match the talent mechanism, and inspire outstanding talents to jointly promote the rapid development of the Group.

In order to further strengthen the company's market value management and enhance shareholder returns, the Group's board of directors discussed and revised the Group's stock dividend policy and stock repurchase policy. In the coming year, when the net profit attributable to equity holders and the cumulative undistributed profit achieved by the Group in the current year are positive, and the Group's cash flow can meet normal operation and sustainable development, the Company will pay cash dividends based on the Group's net profit attributable to equity holders in that year, and consider carrying out share repurchases in due course in the open market based on the Group's free cash flow performance in the previous fiscal year.

Looking ahead to the fourth quarter, the world will enter a new cycle of interest rate cuts, and the economy will continue to grow moderately. The Group will continue to focus on long-term goals, adhere to the direction of global transformation, focus on enhancing global market leadership, and strive to create a green and efficient development space with platform-based, ecological and rapid growth.

On the market side, the Group will solidly promote the development of the global oil and gas market, continue to expand its emerging market footprint in the Middle East, Africa, Southeast Asia and other regions, and further cultivate existing mature markets to create a strategic base for development. At the same time, it will strengthen data sales, focus on the implementation of major breakthrough projects, and lay out the rapid growth of the global market; in the Chinese market, the Group will continue to optimize the market structure, deepen Amoeba operations, focus on in-depth research and efficient implementation of major projects, enhance market leadership, and achieve steady growth in the regional market.

In terms of products and technology, the Group will focus on promoting the implementation of natural gas localization industry chain solutions and promoting this solution to emerging market countries around the world, so that natural gas can be developed and applied efficiently for the benefit of local communities.

In terms of management, the Group will further deepen the transformation of globalization, build an innovative organization that responds quickly to the world, accelerate the absorption and introduction of global talents, and continuously enhance organizational vitality. At the same time, we will continue to carry out efficient management and control, improve business performance, and strive for the efficient completion of business goals throughout the year.