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PRNewswire: CROSCO Provides Drilling Services for Gulfsands Petroleum in Syria and announces new contract for RWE Dea in Egypt

2007-03-22 13:30:56 –

ZAGREB, Croatia, March 22 /PRNewswire/ — CROSCO Integrated Drilling & Well Services Co., Ltd. is pleased to announce the recent commencement of drilling services for Gulfsands Petroleum PLC in Syria. Drilling services are being provided with CROSCO’s 2000 HP drilling rig EMSCO 602 (Emsco C-2 II). Currently CROSCO is drilling the Khurbet East exploration well KHE 1. The total drilling depth of the KHE 1 well is expected to be approximately 3,700 meters.

Vedran Buratovic, General Manager of CROSCO’s Syrian Branch stated, “CROSCO is pleased to be providing drilling services for the second time to Gulfsands Petroleum. During 2006 CROSCO drilled the Suwaidiyah North 1 Well also in Block 26 with CROSCO 1500 HP drilling rig MIDCO 501. CROSCO drilling rig EMSCO 602 recently completed a successful long term engagement for Shell lead Al Furat Petroleum Company. Upon completion of the Gulfsands project, the EMSCO 602 drilling rig will be mobilized to Egypt for a two year contract with RWE Dea Nile. Prior to commencing drilling services for RWE Dea, the EMSCO 602 drilling rig will be serviced and completely retrofitted with new Caterpillar 3512 diesel engines as well as new silicon controlled rectifiers, new motor control center and new shale shakers.”

CROSCO is an integrated onshore and offshore drilling and well services contractor. The company has a fleet of 51 modern drilling, workover and geoservice rigs as well as one semisubmersible and one jackup. CROSCO also provides crew services to Noble jackup rig Harvey Duhaney and provides, manages and maintains drilling, completion and workover services on ENI’s Libyan Sabratha drilling and production platform. In addition, with state-of-the-art western equipment, CROSCO provides the following services: well testing, coil tubing, nitrogen, cementing, stimulation, logging, mud, coring, fishing and directional drilling.

CROSCO is currently providing services in Oman, Qatar, UAE, Syria, Egypt, Libya, Equatorial Guinea, Russia, Italy, Hungary, Bosnia and Herzegovina, Slovenia and Croatia. CROSCO has been providing services internationally since 1958 and has provided services in over 25 countries for many of the world’s most recognized oil companies. The company has ISO 9001, ISO 14001 and OHSAS 18001 certification from Bureau Veritas Quality International London. CROSCO has an average annual revenue surpassing US$ 200 million. The company’s headquarters are located in Zagreb, Croatia.

Please visit our web site regularly for updates and news about our company and services.

Source: Crosco Integrated Drilling & Well Services Co., Ltd.

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