Boots & Coots Picks Up Kazakhstan Contract
Boots & Coots International Well Control, Inc. has signed an exclusive Alliance Agreement for well control and related services work in the Republic of Kazakhstan, both on land and offshore. The Alliance positions Boots & Coots to participate in training and blowout prevention activities in addition to the onsite work which will be required should a major incident occur.
Additionally, the Alliance has established the framework for Boots & Coots' Safeguard package to be positioned in Kazakhstan. Safeguard provides specialized equipment and personnel within a close geographical distance to areas which are most likely to experience well control problems.
The Alliance Partner of Boots & Coots has the only license for this type of activity within the country. The Alliance provides use of this license to Boots & Coots for a five-year period with automatic renewal at one-year intervals at the conclusion of the original term. Kazakhstan has a substantial amount of the world's known reserves in oil and gas. The 160 individual deposits of oil and gas in the country contain known reserves at least equal to the current reserves of all of Western Europe. The country is quickly becoming an increasingly important player in the global energy economy.
According to Jerry Winchester, President of Boots & Coots, "This agreement is an important confirmation of the global leadership position that the Boots & Coots name has in the energy safety and prevention world. Our core focus will continue to be the development of our well control and prevention activities, especially through alliances such as the one with Kazakhstan. With over 20 billion barrels of proven reserves, Kazakhstan proves to be an important franchise builder for Boots & Coots."