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Anton has obtained the development rights for the Dhafriyah oilfield in Iraq, initiating a new chapter of development.

On May 12th, in the fifth and sixth rounds of oilfield block bidding in Iraq, Anton Oilfield Services Group successfully won the bid for the development rights of the Dhafriyah oilfield with a development period of 25 years. Anton will participate in the development of this oilfield block as an operator.

From May 11th to May 13th, the fifth and sixth rounds of oilfield block bidding in Iraq were held ceremoniously under the auspices of Iraqi Prime Minister Mohammed Shia' Al-Sudani. This bidding round included 29 blocks from 12 provinces in Iraq, attracting 22 oil companies including Shell, BP, Lukoil, CNPC, Sinopec, and United Energy to participate in the bidding. In the oilfield development bidding on May 12th, Anton successfully won the bid for the Dhafriyah oilfield development project located in Wasit Province, marking a new phase in Anton's development in Iraq. The Dhafriyah oilfield is situated in Wasit Province, Iraq, covering an area of 368 square kilometers with comparatively low risks, high reserves realization, and significant development potential and economic value.

As an integrated oilfield technology services company, Anton has always been dedicated to providing top-notch oilfield technology services to global oil company clients, helping them improve resource development efficiency and maximize asset value. Participating in the development of this oilfield block aligns with this principle. The essence of this project is a comprehensive oilfield technology services contract, through which Anton will offer future-oriented solutions for sustainable development to oil companies, assisting them in efficiently developing oilfield resources. Anton will steadfastly execute its development strategy as a technology services company and strive to become an innovative and globally leading integrated oilfield technology services company with a long-term strategic goal of achieving sustainable development for its clients.

During this round of block bidding, Anton adopted a differentiation strategy, avoiding direct competition with oil company clients, leveraging its strengths, actively participating, and proactively filling gaps to contribute to the efficient development of Iraq's oil and gas resources. Moreover, Anton consistently emphasizes strong risk management by selecting more mature evaluation and development blocks rather than exploratory blocks and opting for regions with lower risks to avoid high-risk areas. Additionally, Anton upholds a light-asset business development model and will advance high-quality development of this oilfield block through a platform-based operational model, resource coordination, and collaboration with ecosystem partners.

Winning the bid for this oilfield development block project signifies a crucial step for Anton in the oil and gas development sector and heralds a new milestone in its business expansion in Iraq. This new business expansion will inject fresh impetus into Anton's scalable growth and reinforce its commitment to light-asset development, cash flow management, continuous upgrades, and substantial progress towards becoming an innovative and globally leading integrated oilfield technology services company.