ANTON OILFIELD (03337.HK): Secures crude oil sales qualification in Iraq and signs long-term cooperation agreement with SOMO
NewTimeSpace News: On 6 September 2026, Anton Oilfield Services Group (stock code: 03337) announced voluntarily that the Group obtained approval from the Ministry of Oil of Iraq on the same day and signed a long-term cooperation agreement with the State Oil Marketing Company (SOMO), securing the crude oil sales qualification and becoming a designated crude oil export sales partner of Iraq.
Under the agreement, the Group obtained the right to lift crude oil from the self-operated oilfields of the Iraqi national oil company and general long-term sales cooperation qualification, which will help open up payment settlement channels from crude oil sales to oil and gas development service providers, including connecting crude oil buyers and traders and coordinating lifting arrangements; the Group will also act as a general long-term offtaker to help SOMO increase its market share. The announcement said the cooperation marked another milestone in the Group's deepening presence in the Iraqi market and opened a new channel for settling engineering services through crude lifting, while its service chain was further extended to the commercialisation of oil and gas resources through deeper participation in crude sales coordination and settlement.
The Board stated that, following the signing of the long-term crude sales agreement, the Group will become the only independent Chinese oil and gas energy company in the Iraqi market that simultaneously holds qualifications in oilfield technical services, oil and gas resource development and crude oil sales, and will further upgrade its full-chain service synergy from upstream development and oilfield efficiency enhancement to downstream monetisation to build a more complete oil and gas industry service ecosystem.
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