MULTINATIONAL SERVICE COMPANY TAKES SHAPE

March 19, 1990

Organizations from three countries have teamed up to form a joint venture service company. U.K., Soviet, and Hungarian entities formed 21st Century Chemical International Ltd. (21 CCI). Participants are Messina International, London; NPO Burenie of the Ministry of Oil and Gas Industry, Krasnodar, U.S.S.R.; and SZKFI of the National Oil & Gas Trust in Budapest. The combine will develop, produce, and sell Soviet and Hungarian products, technology, and services to the West and western products,

Organizations from three countries have teamed up to form a joint venture service company.

U.K., Soviet, and Hungarian entities formed 21st Century Chemical International Ltd. (21 CCI). Participants are Messina International, London; NPO Burenie of the Ministry of Oil and Gas Industry, Krasnodar, U.S.S.R.; and SZKFI of the National Oil & Gas Trust in Budapest.

The combine will develop, produce, and sell Soviet and Hungarian products, technology, and services to the West and western products, technology, and services to the Soviet Union and eastern bloc countries.

21 CCI hopes to deal with a wide range of chemicals used in well drilling, cementing, and stimulation, said Mario Messina, president and chief executive officer of Messina Inc., Dallas.

For example, Messina said the Soviet and Hungarian partners produce a slate of chemicals and want to know whether the specifications are applicable in the West.

Messina plans to sell products such as polymers, high temperature mud and cement additives, and new technology in the Soviet Union.

The Soviets could use hard currency generated by the sale of chemicals to purchase products from the West, he said.