C.A.T. oil AG

C.A.T. oil AG receives major contract from TNK-BP

Three-year contract to perform more than 600 hydraulic fracturing jobs

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Baden (euro adhoc) - November 13, 2006 - CATOBNEFT, the subsidiary of C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oil and gasfield services in Russia and Kazakhstan, has won a tender organized by TNK-BP and has been awarded a contract for more than 600 hydraulic fracturing jobs by the Russian oil company. CATOBNEFT and TNK-BP have concluded a three-year service contract. The contract’s implementation will start in January 2007.

TNK-BP is a leading Russian oil company established in 2003 through the merger of the oil and gas assets of Russian TNK and British BP. In 2005 the company had proved oil reserves of 9.23 billion barrels and net turnover of USD 24.6 billion.

The services will be rendered in West Siberian Samotlor, one of the largest Russian oil fields. CATOBNEFT has been operating in Samotlor since 1994 and is considerably experienced in this region.

"Our operations entity CATOBNEFT has performed more than 2,000 fracturing jobs in Samotlor over the last 12 years. Therefore, we are very familiar with the specific challenges of this region. We have been successfully performing services for TNK-BP ever since the company was founded. C.A.T. oil AG and its operations entities are among the very few providers of oil and gas services, which were able to adapt their techniques and technologies to meet the highest requirements and standards of TNK-BP. Thus we were able to convince TNK-BP to be the right partner for this major contract," said Manfred Kastner, CEO of C.A.T. oil AG.

The hydraulic fracturing services to be performed under the new contract will increase TNK-BP’s oil production from the Samotlor field. Hydraulic fracturing process breaks up oil-bearing rock formations to increase oil production. Hydraulic fracturing can also be used to revitalize previously idle wells. www.catoilag.com

Press contact: A&B Financial Dynamics

@@start.t2@@Dr. Lutz Golsch                                        Claudia Werth
Phone: +49 (0)69 92037-110                      Phone: +49 (0)69 92037-114
E-mail: l.golsch@abfd.de                         E-mail: c.werth@abfd.de
About C.A.T. oil AG:
Austria-based C.A.T. oil AG (O2C, ISIN: AT0000A00Y78) is one of the leading
providers of oil- and gasfield services in Russia and Kazakhstan. C.A.T.oil’s
core business is hydraulic fracturing, a process which helps to open up oil- and
gas-bearing rock formations in order to increase or even enable oil and gas
production. The C.A.T.oil crews use state-of-the-art methods and technologies to
generate high pressure in the oil or gas reservoirs concerned. This pressure
causes cracks to appear in the rock through which oil or gas can be produced in
larger quantities from the production well, and hence efficiently boosts
extraction, particularly in the case of deposits that are difficult to develop
or low-output wells. In addition, hydraulic fracturing can be used to revitalize
wells that have previously been idle.@@end@@

The Company has its headquarters in Baden near Vienna and employed 2,230 people at the end of 2005, most of whom are based in Russia and Kazakhstan. Customers include leading oil and gas producers such as Gazprom, KazMunaiGaz, LUKOIL, Rosneft, and TNK-BP. C.A.T.oil has been listed in the Prime Standard of the Frankfurt Stock Exchange since May 4, 2006, and has been a member of the SDax since September 18, 2006.

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ots Originaltext: C.A.T. oil AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
A&B Financial Dynamics
Dr. Lutz Golsch
Phone: +49 (0)69 92037-110
E-mail: l.golsch@abfd.de

Branche: Oil & Gas - Upstream activities
ISIN:      AT0000A00Y78
WKN:        A0IKWU
Börsen:  Frankfurter Wertpapierbörse / official dealing



Weitere Meldungen: C.A.T. oil AG

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