Crosco Purchases Rotary Rt. Assets

Crosco Integrated Drilling & Well Services Co., Ltd. has purchased the international assets of Rotary Rt., a subsidiary of MOL Oil and Gas Company of Hungary. This purchase provides Crosco three drilling rigs, experienced personnel, as well as related service and supply contracts in Syria and Tunisia. In Syria, newly obtained Crosco 2000 HP drilling rig Emsco 602 (Emsco C-2II) and Crosco 1500 HP drilling rig Mitco 501 (Mid-Cont. U-914-EC) are under long-term contract for Al Furat Petroleum Company (Shell). In Tunisia, newly obtained Crosco 450 HP drilling rig Ideco 301 (Ideco H 44 ED) is immediately available.

Crosco's President, Marin Koceic, stated: "The purchase of Rotary's international assets is part of Crosco's strategy to increase the company's presence in the Middle East and Northern Africa. The new drilling rigs and projects are in markets where Crosco is active and well established. Crosco is looking forward to integrating our new personnel and assets into Crosco's management systems for optimum quality, health, safety and conservation of the environment."


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