ANTON OILFIELD (03337) has announced its third-quarter results, indicating a fluctuating international oil price and active global oil and gas investment, particularly in the Middle East, which continues to expand production capacity. There has been steady growth in natural gas demand in power generation and industrial sectors, highlighting opportunities in the global supply chain and strong project development requirements. During the period, the company leveraged its unique advantages in China and global presence to innovatively propose a "technical service operator" strategic positioning. This involves technology investments in oil and gas resource acquisition and development, employing a model of "technology application + autonomous extraction + revenue sharing" to advance new business initiatives. This model effectively enhances the company’s business competitiveness and lays the groundwork for future breakthrough value growth.
In the third quarter, the group obtained new orders totaling RMB 1.273 billion, reflecting a 14.4% decline year-on-year. Specifically, new orders from the Iraqi market were about RMB 542 million, representing an 8.4% increase compared to the same period last year; new orders from other overseas markets totaled approximately RMB 160.6 million, down 54.4% year-on-year; while new orders from the Chinese market reached approximately RMB 570 million, down 10.2% year-on-year.
In Iraq, project developments are active, with the company winning contracts for enhanced oil recovery technology services, intelligent oilfield station construction, equipment leasing, and station operation and maintenance projects, leading to an 8.4% year-on-year increase in new orders. In other overseas markets, the company secured orders for well completion and tool sales, although some large projects are still in the bidding process, resulting in a significant decline in new orders year-on-year by 54.4%. In China, the group maintains a focus on promoting the realization of high-quality large projects, winning contracts for oil casing inspection, enhanced oil recovery technology services, oilfield trial repair services, and drilling tool leasing during the quarter, reflecting a 10.2% year-on-year decline.
The group emphasizes lean operations in line with its strategic goals to realize value delivery through efficient project execution. The second and third joint management committee meetings for the Iraq Defer Oilfield development project successfully convened, reaching multiple consensus on future work plans, thereby establishing a solid foundation for subsequent project development and commercialization. Meanwhile, the chemical business made its inaugural entry into the South American market, with the group rapidly advancing project delivery while continuing to expand business in new markets. Domestically, the group focuses on providing comprehensive solutions and continuously promotes breakthroughs and innovations in key technologies, creating transformative value for customers in various oilfield markets, including Xinjiang and Southwest China for reservoir studies and production enhancement.
Looking forward to the fourth quarter, the global oil and gas market is expected to remain volatile due to factors such as oil supply dynamics, geopolitical factors, and a potential resumption of interest rate cuts by the Federal Reserve. In light of the new industry landscape, the group is committed to advancing a global strategy with a new business framework designed to create new engines for long-term growth, moving steadily toward becoming a leading provider of green energy technology services globally.
In market strategies, the group will enhance the management of key early indicators, coordinate market spaces and opportunities, and comprehensively upgrade its brand. The group will continue to deepen its involvement in the Iraqi market and actively seize local oil and gas production opportunities, expedite new project rollouts, and lay out long-term large projects to foster sustained growth. In other overseas markets, the group will simultaneously explore opportunities in other Middle Eastern regions, Africa, and Southeast Asia, with a focus on converting business opportunities into tangible orders. Within the Chinese market, the group will maintain its attention on the in-depth exploration of quality technical service projects and long-term large projects, leveraging comprehensive market research and lean operations to establish industry benchmarks and enhance brand influence.
In terms of products and technology, the group will continue to enhance and upgrade its industry solutions, building a core competitive technical solution framework. It will deepen independent technological innovation and collaborate with clients on joint innovations, strengthening the ability to transform technological achievements. In the digital intelligence field, the company aims to develop integrated geological engineering solutions that are both advanced and open, creating autonomous and controllable digital products, and establishing intellectual property barriers through core technology patent layouts to solidify its competitive advantage in technology.
Regarding management, the group will deepen multidimensional system constructions around strategic objectives: in human resources, focusing on talent acquisition and structural optimization to systematically enhance team professionalism and global vision while building a globalized, standardized, and digitized human resource operation system; in finance management, strengthening system constructions to improve risk prevention capabilities, supporting multi-party ecosystem development, optimizing debt structure, ensuring fund security, and enhancing capital operation efficiency to ensure the stable growth of the business; in the financing system, the group aims to establish a diversified and systematic layout with ample capital reserves to seize significant market development opportunities, facilitating the group's ecological transformation.