EANS-News: Early and significant success in C.A.T. oil's 2014 tendering campaign
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Subtitle: Tender worth EUR 281 million for the 2014-16 three-year sidetrack
drilling contract awarded by Lukoil
Additional tenders worth EUR 22 million awarded by Tomskneft-VNK and
Slavneft-Megionneftegaz for 2014
The awarded orders reflect successful marketing of more than 70% of the
Companys sidetracking capacity for 2014
CEO Manfred Kastner: The major three-year contract once again confirms the
strong demand for our high quality services. Negotiations on additional tenders
are well underway and we will report further good news in the coming weeks of
the tender season.
Company Information
Vienna, 21 January 2014 (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 an early and
significant success in its 2014 tendering campaign. For a three-year period
starting in 2014 the Company has been awarded a tender worth EUR 281 million
(based on a rouble-to-euro exchange rate of 45) for a sidetrack drilling
contract by its long-standing customer Lukoil. C.A.T. oil has thus successfully
marketed 55% of its current sidetrack drilling operating capacities for 2014-16.
In addition C.A.T. oil's subsidiary CATOBNEFT has succeeded in securing tenders
for conclusion of further sidetrack drilling contracts worth EUR 22 million for
2014 by Tomskneft-VNK and Slavneft-Megionneftegaz. As the secured tenders
reflect successful marketing of more than 70% of the Company's existing
sidetracking capacities for the current year, C.A.T. oil is perfectly placed to
accomplish its 2014 tendering campaign in the coming weeks.
Manfred Kastner, CEO of C.A.T. oil, commented: "The tendering campaign is one of
the most exciting events in the course of the year. It not only regularly
provides us with a detailed insight into industry trends, market sentiment and
mid-term production plans of our customers. The progress of the tendering
campaign also reviews our standing in the market."
Manfred Kastner continued: "As three-year contracts are less common in the
Russian oilfield service market, the tender award by Lukoil underscores not only
quality and efficiency of C.A.T. oil's services but also customers' growing
appetite for multi-year contractual arrangements going forward. The major three-
year contract once again confirms the strong demand for our high quality
services. Negotiations on additional tenders are well underway and we will
report further good news in the coming weeks of the tender season."
The contracts' underlying sidetracking services will be accomplished primarily
in the Kogalym, Megion and Tomsk regions 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 independent oil and gas field service
contractors in Russia and Kazakhstan and is listed on the Frankfurt Stock
Exchange (SDAX). C.A.T. oil provides a range of high quality services, which
enable oil and gas producers to extend lifecycle of their fields or bring yet
unexploited oil and gas reserves to production.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a
leading hydraulic fracturing service, a very effective method of well
stimulation by cracking rock formations with pressurized fluids, in Russia and
Kazakhstan. Following its IPO in 2006, the Company developed a second core
service of sidetrack drilling in 2006-08 and has established a strong presence
in Russia's sidetrack drilling market. Sidetrack drilling is a term used to
describe drilling of a new wellbore from the upper section of an existing well.
In 2011-12, the Company launched the next phase of its growth and
diversification strategy and set up high class drilling operations as a third
core service offering. High class drilling is the classical technology of
drilling vertical, inclined and horizontal wells for extraction of oil and gas.
In total, the Company has already invested more than EUR 400 million in growth
and diversification since its IPO in 2006.
Following the successful set up of high class drilling in 2011-12, C.A.T. oil
introduced its new segment reporting in 2013 clustering its activities in "Well
Services" (fracturing, cementing and completion operations) and "Drilling,
Sidetracking and IPM (Integrated Project Management)".
C.A.T. oil's customer base includes the leading Russian and Kazakh oil and gas
producers such as Gazprom, Rosneft, Lukoil, TNK-BP and KazMunaiGaz. The Company
has long-standing relationships with these customers and has been a reliable
service provider since its market entrance in the early nineties.
C.A.T. oil has its headquarters in Vienna. The Company's 9M 2013 weighted
average headcount stood at 2,673 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
--------------------------------------------------------------------------------
company: C.A.T. oil AG
Kärntner Ring 11-13
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
