BP and Panalpina will join hands to design a best-in-class oil and gas freight forwarding supply chain. The two companies have signed a strategic services master agreement that will tap into Panalpina’s vast Oil and Gas and Panprojects experience. The scope of the multi-year agreement comprises transportation services for air, ocean, road and rail, industrial projects, freight management and other logistics services connected with the exploration and production of oil and gas.
“The agreement with BP is great news for Panalpina. We’ve gone through tough times in Oil and Gas in the past years,” said Panalpina CEO Monika Ribar. “Today we are stronger than ever before in that area of expertise. We are best-in-class when it comes to compliance and standards for Health, Safety, Security and Environment. And more importantly, we have the experience, the capability and the capacity to execute and deliver for our Oil and Gas customers.”
Upstream business under one single contract
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.
