EANS-News: C.A.T. oil has successfully marketed its sidetrack drilling
capacities for 2013
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Subtitle: Existing sidetrack drilling contract extended by EUR 38 million to
EUR 65 million by Lukoil
Further tenders for sidetrack drilling contracts worth EUR 63 million awarded
by Rosneft, Slavneft and Tomskneft-VNK
Early and remarkable success in 2013 tendering campaign
Company Information
Vienna, 22 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 CATOBNEFT has been
awarded an extension on an existing contract by EUR 38 million to EUR 65 million
(based on a rouble-to-euro exchange rate of 40). In addition CATOBNEFT has
succeeded in securing tenders for conclusion of further sidetrack drilling
contracts by Rosneft, Slavneft and Tomskneft-VNK worth EUR 63 million. In total,
the existing order book represents approximately 85% utilization of the
Company's sidetrack drilling capacity for the full year 2013. Based on the
recently announced award of tenders for hydraulic fracturing services and the
current order book volume of EUR 128 million for sidetrack drilling C.A.T. has
achieved an early and remarkable success in its 2013 tendering campaign.
Manfred Kastner, CEO of C.A.T. oil, commented: "Following the award of two
three-year tenders for hydraulic fracturing services we have more good news to
report today: C.A.T. oil has successfully marketed its sidetrack drilling
capacities worth EUR 128 million for 2013, representing a utilization of 85%.
Having further tenders at an advanced stage we are thus well under way in our
2013 tendering campaign laying a sound basis for the upcoming year."
Having achieved the extension of an existing sidetrack drilling contract at an
early stage of time is a positive sign for two reasons: On the one hand it once
again clearly mirrors the customers' trust in C.A.T. oil. On the other hand it
gives an indication on the customers' strong activity levels going forward.
Manfred Kastner added: "What we have learned in the tendering campaign so far is
that our customers prepare themselves for a busy 2013. Having increased our
sidetrack drilling and fracturing capacities as well as successfully set up high
class drilling as our third core service in 2012 we are optimistic to once again
grow our profitable business in 2013."
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 high class 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
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
