Romania: GSP Enters into Agreement with AMEC to Develop Oil & Gas Projects in Black Sea

Grup Servicii Petroliere SA (“GSP”) today announces its entry into an agreement with AMEC, the international engineering and project management company.

Under the terms of this agreement, GSP and AMEC will develop oil and gas exploration / production projects in the Black Sea area.

“We are very proud to have AMEC, one of the world’s leading engineering, project management and consulting companies, as our partners. We strongly believe this co-operation will strengthen the position of GSP and AMEC in the offshore construction market, to jointly offer integrated services for the benefit of E&P companies worldwide” declared Fanel Hahui, GSP’s CEO.

Tony Cruddas, President of AMEC’s Growth Regions business said “We are delighted to be combining our leading engineering, project management and asset support capabilities with GSP’s strong local position in the oil and gas market to deliver excellent services for our joint customer portfolio in the new opportunities across the Black Sea”.

GSP is the leading Oil&Gas services provider in the Black Sea area. The company operates a fleet including five mobile offshore drilling rigs, a modular drilling rig, ten offshore support vessels of different types, a fleet of technical vessels including a DP3 pipelay barge, the largest heavy lift crane barge in the Black Sea, heavy lift semisubmersible and offshore work and accommodation barge as well as a fleet of heavy duty and inspection class ROVs, and a 300 MSW saturation diving system.

The companies within Upetrom Group have activities in onshore and offshore drilling, oilfield equipment production, design engineering, as well as in the tourism sector. Today, Upetrom Group has more than 5000 employees and is operating worldwide, with representative offices in many countries.

Source: GSP, August 03, 2011;

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