Anton Oilfield Services Group has announced a significant breakthrough in its Iraq operations, receiving official approval from the Iraqi Ministry of Oil on September 6, 2026. The company has entered into a long-term cooperation agreement with the State Oil Marketing Company (SOMO), which grants it crude oil sales qualifications and designates it as an official export partner for Iraq's crude oil.
Under the terms of this agreement, Anton Oilfield has obtained the right to lift crude oil from Iraq's national oil company-operated fields, along with eligibility for general long-term sales cooperation. This arrangement establishes a direct financial settlement channel between crude oil sales and oilfield development service providers, encompassing assistance in connecting oil buyers with traders and coordinating crude oil shipping arrangements. The initiative aims to actively facilitate resource monetization while supporting enterprises within Iraq's oil and gas industry ecosystem, particularly addressing contractor settlement requirements. Additionally, the group will operate as a general long-term crude oil lifting trader to help SOMO expand its market share.
Iraq has long been a strategically significant international market where the group has maintained deep-rooted operations. Confronting the complex circumstances and operational pressures currently facing Iraq's oil and gas sector, the group has committed substantial resources, leveraging its fully integrated service capabilities and resource network synergies to provide comprehensive, in-depth support for Iraq's petroleum industry and contribute to its stable development.
This cooperation marks another crucial milestone in the group's continued expansion within the Iraqi market. The establishment of this new channel, which links oil lifting settlements to engineering services, represents a pioneering business model breakthrough with the potential to deliver mutually beneficial outcomes for the Iraqi government, national oil companies, field operators, and service providers alike.
Through deep participation in crude oil sales coordination and settlement processes, the group's service chain has extended further into the commercialization support segment of oil and gas resources, broadening its full-industry-chain service footprint. This development has also strengthened relationships with the Iraqi Ministry of Oil and affiliated national petroleum institutions, enhancing the group's business resilience and risk resistance capabilities in complex market environments.
The signing of this long-term crude oil sales agreement positions Anton Oilfield as the sole Chinese independent oil and gas energy company in the Iraqi market possessing simultaneous qualifications in oilfield technical services, oil and gas resource development, and crude oil sales services. The group will further upgrade its coordinated service capabilities spanning upstream development, production enhancement, and downstream monetization, establishing a more comprehensive oil and gas industry service ecosystem. This distinctive positioning opens a new chapter for the group's long-term sustainable growth.