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Rosss Spa | BIT:ROS | Italy | Ordinary Share |
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RNS Number:5416T Ramco Energy PLC 22 December 2003 Ramco Energy plc ("Ramco" or "the Company") OPERATIONAL UPDATE Seven Heads Commissioning Complete Ramco Energy plc (Ramco), the Aberdeen based exploration and production company and Operator of the Seven Heads gas development in the Celtic Sea, announces that the gas field which came on stream last Saturday has successfully completed its short commissioning period. Gas sales under the Gas Sales Agreement with Innogy commenced on December 18, 2003 at an initial rate, for the field of 60 mmscfd (Ramco share 86.5% 51.9 mmscfd). Ramco Oil Services - Contract Extensions Ramco Oil Services, a wholly owned subsidiary of Ramco, announces the extension of its contracts with Shell Exploration and Production and JFE Steel Corporation (JFE), (formerly Kawasaki Steel Corporation). Shell Expro The new agreement with, Shell Exploration & Production follows on from Ramco's previous five-year contract to manage Shell Exploration & Production's tubular goods for its North Sea platforms and rigs. The contract, which has been extended for a further three years is worth approximately #12 million and will involve the storage, service and maintenance of an estimated 40,000 tonnes of pipe per annum at Ramco's one-stop integrated pipe management facility at Badentoy, just south of Aberdeen. JFE Steel Corporation Ramco's existing contract with JFE has been extended for two years, from January 2004 to December 2005. The contract, which is estimated to be worth #1 million, will involve Ramco providing tubular care and maintenance services to JFE from its mobile Pipe Care Unit, operating out of the Chita steel works in Handa City, Japan. Stewart Cumming, Managing Director of Ramco Oil Services, commented: "We are delighted that JFE and Shell have elected to extend their contracts with us. Both are significant contracts for Ramco Oil Services, and in a market experiencing some uncertainty, provide confirmation of the quality of our work and our leading position in the market place. We look forward to continuing our strong relationship with both companies." 22 December 2003 ENQUIRIES: Ramco Steven Bertram, Group Financial Director 01224 352 200 College Hill Nick Elwes/James Henderson: 020 7457 2020 Notes to Editors. Ramco Oil Services encompasses the tubular and pipeline activities of Ramco Energy plc. This profitable business is a North Sea market leader with over 80% of the market. In addition to Shell and JFE, the company's customer base includes BP, Chevron, Amerada Hess, Nippon Steel, Corus, Sumitomo, and Itochu. This information is provided by RNS The company news service from the London Stock Exchange END MSCILFFLFRLFFIV
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