Boots & Coots International Well Control announced it has signed a three year contract, with an option for two additional years, under an international call for tender launched by Algeria’s national oil company, Sonatrach, to provide hydraulic workover/snubbing services. The contract, valued at $28 million, is in addition to the Company’s existing contracts in Algeria.
Following the contract announced in August of last year, this new contract includes the deployment of two additional 150K hydraulic workover units from our domestic fleet. Boots & Coots expects to initiate operations under the contract in the fourth quarter of this year.
“Algeria is a perfect example of us executing our business strategy and of our commitment to being a global pressure control company," said Jerry Winchester, president and chief executive officer. "Our operations and business development teams have done an outstanding job of putting us in a position to qualify for and win this contract. Algeria has proven a great place for us to showcase our capabilities while working for some of our best customers.”