HMS Group to Provide Overhaul and Maintenance Services For Vankor Oil and Gas Field

05.10.2011

HMS Group announced signing a contract totaled Rub 570 million after winning the competitive tender process.

In accordance with the contract the Group will render overhaul services and maintenance of the broad range of oil equipment installed on the East-Siberian oil and gas field during 2012 with possible prolongation for the next two years.

Artem Molchanov, Managing Director (CEO) of HMS Group, commented:

“This contract is a good example of the HMS Group commitment to its strategy. Strong relationships with our clients have been a cornerstone of our business model for years. We have consistently met the requirements of our customers providing them with comprehensive solutions across the entire life-cycle of their projects - from engineering at the early stage to aftermarket services for the completed projects.

As another example, last year we‘ve signed a similar contract with TNK-BP under which the Group rendered services on water injection pumps maintenance at the Samotlor oilfield.

Currently we observe certain changes in overall market structure – the customers started to get rid of in-house overhaul and repair works, focusing on cost efficiency and outsource such operations.

I believe that growing number of aftermarket contracts will increase Group’s revenue and maintain stable margins”

Source: HMS Group

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