Anton Oilfield Services Group has entered into a contract with its customer pursuant to which the Group successfully renewed the integrated oilfield management service project for an oilfield in southern Chad, and continued to provide the customer with integrated comprehensive management of the oilfield, including the reservoir technical services, production planning, oilfield operation, and maintenance management, etc. The initial service period is one year starting from the official launch, the total amount of the contract is USD 21.7 million, subject to extension of an additional half-year of service period at the option of both parties by agreement in writing depending on the project situation. The new contract will be seamlessly linked to the ongoing contract, and take effect on 16 March 2022.

This successful renewal fully reflects the high recognition of customers for the service content and service quality provided by the Group in the past few years. Since the undertaking of this integrated oilfield management project by the Group in 2019, the Group has provided the customer with efficient and high-quality services, helped the customer improve efficiency, ensured stable operation of the oilfield business for over two consecutive years, and effectively acted in concert with the customer ' s the production and investment plans, carried out efficient management. When the global economy was faced with the severe impact of the epidemic, the Group's oilfield management projects have always maintained stable operation, contributed stable income and cash flow to the Group, and enabled the Group to successfully withstand the global impact.

On 1 March 2022, the project officially achieved two million safe manhours without lost time incident. The achievement of this milestone reaffirmed the Group's excellent QHSE (Quality, Health, Safety, Environment) management capabilities, fully demonstrating the Group's excellent technical level in oilfield management services, and laid a solid foundation for this successful renewal. Amid rapid changes and accelerated cyclic iteration in the industry, the Group has seen great potential in the integrated oilfield management service model.

Accordingly, the Group will leverage on its advantages, endeavor to replicate its service model in emerging markets of global oil and gas development, and continue to upgrade its business, so as to be a global leading oilfield technology service company.