Bentec Barrels in $177MM Contract to Supply Rigs to Russia

Bentec GmbH has won its second multi-million dollar Russian contract in as many months. The US $177  million contract, which was won by competitive tender, is the largest contract award in Bentec's history.

The contract is for the fabrication and delivery of three of Bentec's 320 ton stationary rigs and four of its HR 5000 Cluster Slider rigs to an (undisclosed) Russian company, with an option to order up to two more 320
ton stationary rigs at a later date.

Norbert Gebbeken, Bentec Managing Director, Commercial, said, "Together with the contract signed a few weeks ago for the delivery of four of our 250 ton HR 4500 Cluster Slider rigs, this latest significant contract award brings our recent order intake to over US $450 million.

Arend Loedden, Bentec Managing Director, Technical, added, "Bentec's proven oilfield technology, combined with an intensive marketing campaign in Russia, were key to our success in winning this contract.

"This latest contract award further reinforces Bentec’s reputation as Europe's leading rig designer and builder and is another milestone in our drive to enhance our position in the Russian market."

Delivery of the rigs is scheduled for 2010, after which all seven rigs will begin operations for Gazprom in Russia.

Bentec's 320 ton stationary and HR 5000 Cluster Slider are GOST certified for operation in harsh Russian environments.

This is the latest project to utilize Bentec's new fabrication facility in Tyumen, Siberia, where operations are scheduled to commence in the coming weeks, with an official opening in the fourth quarter of this year.