Abbot Group wins rig contract in Kazakhstan

Nov 18, 2002 01:00 AM

The Abbot Group said that its Germany-based rig building and servicing subsidiary Bentec has been awarded a contract to supply Kazakhstan's state oil and gas company KazMunaiGaz with a highly mobile drilling/workover rig.

The contract, which was successfully tendered in conjunction with Bentec's Kazakh partner, Petropavlovsk Heavy Machine Building Plant (PZTM), Petropavlovsk, is for an initial unit with options for three more, with each unit being valued at approximately $ 4.23 mm (EUR 4.2 mm).
Approximately half of the manufacture of each unit will be undertaken in Bentec's facility in Bad Bentheim Lower Saxony, with the remainder being built and assembled under Bentec's supervision in Petropavlovsk.

Alasdair Locke, executive chairman of Abbot, said, "Although relatively small in Group terms, this initial contract is very significant for Bentec as it provides the first step in what we believe will be the realization of major opportunities in the former Soviet Union. With the current restructuring under way in Bentec, the focusing of the business on its cost base and the use of strategic partners we can look forward to further success in this area."

Source: OGI
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