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CAT oil AG's Subsidiary CATOBNEFT Receives Contract Extensions


Tuesday, 22 Jan 2013 06:52am EST 

CAT oil AG announced that its operating subsidiary CATOBNEFT has been awarded an extension on an existing contract by EUR 38 million to EUR 65 million (based on a RUB-to-EUR exchange rate of 40). In addition CATOBNEFT has succeeded in securing tenders for conclusion of further sidetrack drilling contracts by Rosneft, Slavneft and Tomskneft-VNK worth EUR 63 million. In total, the existing order book represents approximately 85% utilization of the Company's sidetrack drilling capacity for the full year 2013. 

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