C.A.T. oil′s 2011 Order Book Peaks at EUR 222 Million
Top 5 customers placed sidetrack drilling and hydraulic fracturing
orders
worth EUR 222 million for 2011
Outstanding track record and proven service quality acknowledged by
customers
C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of
oil and gasfield services in Russia and Kazakhstan, has successfully
accomplished the 2011 tendering campaign: as of 20 January 2011, the
company′s order book reached EUR 222 million (based on a rouble-to-euro
exchange rate of 40). In the past fiscal year C.A.T. oil had already
been able to secure assignments for 2012, thereby bringing the total
volume of orders to EUR 259 million for 2011 and 2012.
Manfred Kastner, CEO of C.A.T. oil, said: 'We are very proud of the
tender period for 2011 and have set a good basis with an order book
volume of EUR 222 million. Our outstanding track record and proven
service quality, as well as the economic recovery and increase in demand
for oil and gasfield services served as main drivers for this success
and reflect that our customers acknowledge C.A.T. oil as reliable
supplier.?
In 2011 and 2012 C.A.T. oil will invest EUR 150 million to expand its
sidetrack drilling activities and to establish conventional drilling as
a third business. Two newly purchased sidetrack drilling rigs are
currently being mobilized to Rosneft′s well sites in the Yugansk area
and will be put into operations next month. The addition of these two
new rigs constitutes an increase of approximately 13% in C.A.T. oil′s
sidetrack drilling operations and pushes the capacity to a total of 17
rigs.
As part of the establishment of the third core business conventional
drilling, C.A.T. oil has ordered nine conventional drilling rigs to
offer high-class onshore drilling services. One third of the equipment
is scheduled to be delivered to Russia in the second half of 2011 and
thus represent additional upside potential for growth.
'In total, our successfully realized tendering campaign sets the stage
for additional growth. Historically we have been able to book in advance
approximately 80% of each year′s annual sales. Implementing conventional
drilling in our portfolio will also position us for additional growth,?
Manfred Kastner said.
C.A.T. oil will publish its results for Fiscal Year 2010 on April 28,
2011.
FD for C.A.T. oil
Carolin Amann
Tel.: +49-(0)69-92037-132
Email:
carolin.amann@fd.com
