C.A.T. oil AG

C.A.T. oil´s subsidiary named winner in major tender for sidetracking operations

• C.A.T.oil’s subsidiary CATOBNEFT has been awarded winner of major tender for side tracking operations with TNK-BP • One third of C.A.T. oil’s current sidetracking capacities locked up for three years.

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Vienna (euro adhoc) - Vienna, December 13, 2007. C.A.T. oil AG (O2C, ISIN AT 0000A00Y78), one of the leading providers of oil and gas field services in Russia and Kazakh-stan, has been announced winner through its operating subsidiary CATOB-NEFT in a major tender for a 3-year sidetracking contract with TNK-BP, one of Russia´s largest oil and gas groups. C.A.T. oil is going to render sidetracking services for TNK-BP at Samotlor field, one of the largest oil fields in the world located in the West Siberian re-gion of Nizhnevartovsk. Following a steep fall in Samotlor´s crude production from the 1980s peak of 3 million barrel per day down to 335 thousand barrels per day in 1996, TNK-BP has undertook a grand scale reconstruction to bol-ster the asset output to approximately 700 thousand barrels per day by 2010. Apart from sidetrack drilling, C.A.T. oil provides hydraulic fracturing, workover and remedial cementing services at Samotlor under the field´s rehabilitation plan. The tendered work load amounts to a revenue of around EUR 30 million per year and locks up C.A.T. oil´s three sidetrack drilling rigs or 30% of the Com-pany´s current total sidetrack drilling capacity for three years. The contract is expected to be sealed at the end of this year or at the begin-ning of 2008 at the latest. "At this point, sidetrack drilling is C.A.T. oil´s fastest growing business line, which will massively contribute to the Company´s top and bottom line growth next year and beyond. Therefore, it is hard to overvalue the tender results, which recognize C.A.T. oil´s ability to respond swiftly to the market demands and build up highly competitive service for its customers within a short period of time" - said Leonid Mirzoyan, CCFO of C.A.T. oil AG.

About C.A.T. oil AG: Austria-based C.A.T. oil AG (O2C, ISIN: AT0000A00Y78) is one of the leading provid-ers 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 for-mations 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. The Company has its headquarters in Vienna and employs appr. 3,000 people, 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
Email: l.golsch@abfd.de

Carolin Amann
phone: +49 (0)69 92037-132
c.amann@abfd.de

Branche: Oil & Gas - Upstream activities
ISIN:      AT0000A00Y78
WKN:        A0IKWU
Index:    SDAX, Classic All Share, Prime All Share
Börsen:  Börse Frankfurt / regulated dealing



Weitere Meldungen: C.A.T. oil AG

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