Baghdad (IraqiNews.com) — Anton Oilfield Services Group has obtained authorization to sell crude produced in Iraqi oilfields and inked an Export of Oil Sales Agreement with Iraq’s State Oil Marketing Organization (SOMO), expanding the Chinese oilfield services group’s presence in Iraq beyond engineering and operations.
The deal offers a new system for integrating oilfield engineering services, crude sales, and payment settlement, enabling Anton to include crude marketing into the economic structure that supports its activities in Iraq.
According to Anton, the agreement would provide Iraqi oil businesses more flexibility in making payments for upstream services while also offering a more stable finance route for enterprises operating in the country’s oil industry.
The initiative is significant because it allows Anton to participate in the sale of Iraqi petroleum in addition to its current interests in oilfield technical services and oil and gas operations.
Anton defined the arrangement as an “engineering services-crude oil sales-payment collection” cycle, with the goal of improving cash flow throughout the upstream services chain and supporting ongoing investment and operations.
The corporation has established a strong presence in Iraq as part of its broader growth into the expanding oil and gas markets.
Anton stated that it intends to strengthen its collaboration with the Iraqi government, national oil corporations, and other industry partners as it increases its integrated position across Iraq’s energy value chain.
Founded in Beijing, Anton operates in over 30 countries and regions in the Middle East, Asia, Africa, and Latin America, offering services ranging from field development to production operations and specialized oilfield work.