BP and Panalpina have signed an agreement that will tap Panalpina's oil and gas, plus, Panprojects experience.

    The multi-year agreement comprises transportation services for air, ocean, road and rail cargo, industrial projects, freight management and other logistics services connected with the exploration and production of oil and gas, a statement from the logistics provider said.

    "We've gone through tough times in oil and gas in the past years," said CEO Monika Ribar.

    The agreement unites operations and freight management services for upstream capital projects under a single contract. The upstream sector is known as the exploration and production (E&P) sector. It involves the searching for potential underground or underwater oil and gas fields, drilling of exploratory wells, and subsequently operating the wells that recover and bring the crude oil or raw natural gas to the surface.

    The industrial projects division of the group, Panprojects, will mostly handle the upstream business under this agreement. About 300 specialists around the world provide integrated logistics turnkey project forwarding and management services on a global scale.

    "Our services are especially suited for companies like BP," said Christopher Kent, global head of Panprojects. "BP will benefit from our industry-specific expertise that we have gained from the completion of numerous large and small projects in all industry segments worldwide over the past two decades."

(Source:Shippingazette)