Oil Services Group builds gas pipeline in Soci, Russian Federation

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The Oil Services Group Co. (GSP) based in Constanta (south¬east), specialized company in marine oil drilling, part of UPETROM Group, will inaugurate at the beginning of Jan. 2010 the assembly and mounting works of a submerged pipeline for the transport of natural gas on the Russian Black Sea side.

According to GSP SRL Co. general manager Fanel Hahui, the contract in value exceeding 250 million USD, was adjudicated by Constanta company on November 17 following an international bidding organized by Russian company Stroygazmontaj – subsidiary of Gazprom state holding.
“GSP was commissioned based on this contract to mount and install on the bottom of the sea a 150 km long, 20 inch (500 mm) pipeline for the transport of natural gas to Krasnodar Region, between localities of Dzhumda (south of Novorossiysk) and Soci, for the transport of gas from an exploitation field, as well as from the Trans-Siberian pipeline terminal”, announced Fanel Hahui.

The construction deadline for this pipeline is set mid-June and GSP construction becoming operational will mobilize more than one thousand specialists, a research, scanning and mapping ship of the bottom of the sea, two platforms for mounting the pipes, supply ships and a base ship for divers, as well as ships for the transport of the assembly elements.

According to GSP representative, the company will implement in Russia a first project of this kind, another two lower weight contracts going to be implemented this year by Constanta specialists on the Turkish and Bulgarian seaside. Oil Services Group is a company with integral private capital, set up in May 2004, specialized in marine drilling and afferent services, including specialty consultancy.

At the end of 2005, GSP purchased from Petrom six marine drilling platforms for the price of 80.3 million euros (100 million dollars), starting in fact its ascension to the market leader status in the Black Sea basin, one of the richest zones on the globe in natural gas and oil.

In June 2009 GSP established in Constanta-South Agigea Port (south-east, on the Black Sea shore) the latest Romanian shipyard on a surface of 39,000 square meters, specialized in construction of oil exploitation platforms, technical ships for drilling and exploitation platforms, an investment worth 10 million dollars. Already equipment destined to exploitation of a gas field in Turkey is in ongoing construction, as well as a barge for the installation of submerged pipes in two fields held by Turkey and Bulgaria. In 2008 GSP posted a turnover of 192.1 million euros and the net profit is of 56 million euros.

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