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Subtitle: Tenders for three-year hydraulic fracturing contracts worth EUR 190
million awarded by Lukoil and TNK-BP
Around one-fourth of hydraulic fracturing capacities successfully marketed for
2013-2015
C.A.T. oil well under way to successfully accomplishing its 2013 tendering
campaign
Company Information
Vienna, 15 January 2013 (euro adhoc) - C.A.T. oil AG (O2C, ISIN: AT0000A00Y78),
one of the leading providers of oil and gas field services in Russia and
Kazakhstan, today announced that its operating subsidiary CATKoneft has been
awarded tenders for conclusion of two three-year hydraulic fracturing contracts
by Lukoil and TNK-BP worth EUR 110 million and EUR 80 million, respectively
(based on a rouble-to-euro exchange rate of 40). Having around one-fourth of its
hydraulic fracturing capacities already marketed for a three-year period
starting 2013 and further tenders being at an advanced stage, the Company is
well poised to accomplish its 2013 tendering campaign in the upcoming weeks.
Manfred Kastner, CEO of C.A.T. oil, commented: "Based on C.A.T. oil's well
balanced and comprehensive service offering we enthusiastically entered the
tendering campaign in Q4 2012 full of optimism. We are proud to announce today
that we have been very efficient in marketing our capacities so far and stayed
upbeat about prospects for another year of profitable growth for C.A.T. oil."
What makes the contracts particularly special is their duration. The oil and gas
field service industry in Russia operates predominately on the basis of one-year
contracts, and only preferred high quality contractors enjoy awards of
multi-year contracts.
Manfred Kastner added: "The awards of these three-year contracts by Lukoil and
TNK-BP, both long-standing and highly respected customers, not only enhance
longer-term visibility of the Company's revenues but also underscore the
customers' trust in C.A.T. oil. We will build upon this trust going forward and
will further strengthen our position in the market being first choice when high
class quality, reliability and efficiency are the name of the game."
The contracts' underlying hydraulic fracturing services will be accomplished
primarily in the Kogalym and Nizhnevartovsk region in West Siberia.
www.catoilag.com
Press contact:
FTI Consulting
Thomas M. Krammer
Phone: +49 (0)69 92037-183
Email: thomas.krammer@fticonsulting.com
Steffi Fahjen
Phone: +49 (0)69 92037-115
Email: steffi.fahjen@fticonsulting.com
About C.A.T. oil AG
C.A.T. oil AG is one of the leading providers of oil and gas field services in
Russia and Kazakhstan and is listed on the Frankfurt Stock Exchange (SDAX).
C.A.T. oil offers a wide spectrum of services to increase the lifecycle of an
oil field or to make unexploited oil fields accessible. The Company's growth is
driven by the following factors: Existing oil fields need to be stimulated due
to shrinking oil and gas resources in order to optimize capacities.
Simultaneously, idle wells are reactivated or made accessible through new
methods in order to deploy wells to their maximum. Additionally, C.A.T. oil has
established conventional drilling as third core service which allows to access
completely unexploited oil and gas reserves.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a
leading hydraulic fracturing services business in Russia and Kazakhstan.
Following its IPO in 2006 the Company has invested more than EUR 250 million in
additional services and capacities: sidetrack drilling has become the Company's
second core business. In 2011, the Company initiated a comprehensive investment
program with a volume of EUR 150 million, focusing on the set up of high class
conventional drilling as third core service offering. The new service line was
fully installed in 2012.
C.A.T. oil's portfolio also includes cementing and seismic services. With its
state-of-the-art technology the Company clearly differentiates itself in its
core markets as the equipment allows for very time-efficient and effective
deployment. C.A.T. oil's customer base includes the leading Russian and Kazakh
oil and gas producers amongst them Gazprom, KazMunaiGaz, LUKOIL, Rosneft and
TNK-BP. C.A.T. oil has a long-standing relationship with these customers and has
been a reliable service provider since its market entrance in the early
nineties.
The Company has its headquarters in Vienna. In 9M 2012, the Company employed an
average of 2,469 people, most of which are based in Russia and Kazakhstan.
Further inquiry note:
Thomas Krammer
Tel: +49(0)69-92037-183
Email: thomas.krammer@fticonsulting.com
end of announcement euro adhoc
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company: C.A.T. oil AG
Kärtner Ring 11-13
A-A-1010 Wien
phone: +43(0) 1 535 23 20 - 0
FAX: +43(0) 1 535 23 20 - 20
mail: ir@catoilag.com
WWW: http://www.catoilag.com
sector: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
indexes: SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English
