EANS-News: C.A.T. oil successfully drives 2013 tendering campaign
15.01.2013 – 09:02
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The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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