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New international offices for Renco Services Division

The year starts well for Renco. The Services Division acquired new multi-annual contracts which confirms the company’s international role in the Oil & Gas sector with the registration of new local entities in Oman, Saudi Arabia and in Bahrain. Starting with the framework contract with a large, international company in the energy sector by providing specialised personnel for Operation & Maintenance services in Russia and Kazakhstan.

A significant commercial agreement for a duration of five years.

In addition, the same company also contracted Renco for the supply and deployment of specialised personnel for Operation&Maintenance services in a region including Saudi Arabia, Qatar, Oman and Bahrain. This is also a five-year contract and with this agreement the company enters new countries, opening local entities: Renco Oman, Renco Saudi Arabia, and Renco Bahrain.

The contract with NCOC is no less important. North Caspian Operating Company is an operating company of the North Sharpian Production Sharing Agreement and also the first major offshore oil and gas development company in Kazakhstan. The agreement concerns the provision of qualified personnel for specialised services in Kazakhstan .

Finally, there is a new contract with AGSco (Albanian Gas Service Company), the state-owned newco for the management of the gas facilities after the completion of the Tap pipeline. The agreement concerns the maintenance for TAP’s new facilities. The duration of the contract is three years.

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