Rosneft Selects Trican for Priobskoye Frac Contract
Trican Well Service Ltd.'s Russian subsidiary, Newco, has won a three-year strategic contract with Yuganskneftegaz, a subsidiary of Rosneft, for the provision of hydraulic fracturing services in the Priobskoye oilfield in the Khanty-Mansiisk region of Western Siberia.
The contract is for a guaranteed minimum of 1,000 large-volume fracturing jobs over three years commencing January 1, 2007 subject to ongoing work performance requirements, with potential for a 20% increase in work scope over the contract term. This contract award was based on Newco's high level of operational and technical performance in 2006. The Priobskoye field is within Newco's existing area of operation and work under this new contract will be carried out by existing equipment currently based in Nefteyugansk.
Over its term, the contract is estimated to generate revenue of approximately US$210 to $250 million.
Headquartered in Calgary, Alberta, Trican's principal operations are in Canada; however, the Company also has growing operations in Russia, Kazakhstan and the United States. Trican provides a comprehensive array of specialized products, equipment and services that are utilized by exploration and production companies during the exploration and development of oil and gas reserves. The Company is managed in three divisions - Well Service, Production Services and Corporate.
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Company: Trican Well Service more info
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