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Integra brochure
(pdf - 1.6 mb)

October 03, 2007

Integra Completes Next Stage of Restructuring of Its Drilling Division

Integra Group, a leading Russian independent provider of onshore oilfield services and manufacturer of oilfield equipment, announces that it has completed the next stage of the restructuring of its drilling division and consolidation of its drilling assets into Integra-Bureniye.
To date, four companies: PNBK (Izhevsk), BK Sever (Nyagan), BK Argillit (Nizhnevartovsk) and Integra-KRS (Nizhnevartovsk) have been merged into Integra-Bureniye, the Company managing Integra Group’s drilling assets.
The next stage of the restructuring programme will be the establishment of Integra-Bureniye branches in Volgograd, Irkutsk and Usinsk. The latter branch will be created once BK Aliance, the drilling company operating in Timan-Pechora, merges with Integra-Bureniye.
The result of the restructuring will be creation of six production units, operating in the following regions of Russia: Volga-Urals (Izhevsk, Volgograd), Western Siberia (Nyagan, Nizhnevartovsk), Eastern Siberia (Irkutsk), and Timan-Pechora (Usinsk). The projected branch of Integra-Bureniye in Kazakhstan, will become the seventh production unit. The new structure of Integra’s drilling business (Integra-Bureniye and its subsidiaries) will enable the Group to improve the efficiency of its rig management; the restructuring process is due for completion in the beginning of 2008.Commenting on the restructuring process, Felix Lubashevsky, President of Integra Group, said:
“The restructuring of Integra’s drilling division will allow us to simplify the existing structure and create a more efficient system of subsidiary networks. It will also ensure better capacity utilization, and ultimately increase the manageability of our operations and predictability of our business.”
Notes for editors:
Integra Group is a leading Russian independent provider of onshore oilfield services and is also a leading manufacturer in the Russian Federation of drilling rigs with heavy lifting capacity, cementing equipment and certain specialized equipment used in the exploration, development and production of oil and gas.
Integra Group operates in the drilling, workover, seismic and geophysics sectors and manufactures oilfield services equipment. Integra has oilfield services operations in all major oil and gas producing regions in Russia and in many other CIS countries. The company’s customer base includes major Russian and international oil and gas companies operating in Russia and CIS.
Established in March 2004, Integra Group has, through 16 strategic acquisitions, become one of the leading companies in the oilfield services and equipment manufacturing sectors of the Russian market and employs approximately 19 000 people.
Since February 27, 2007 Integra Group has been traded on the London Stock Exchange (symbol: INTE). For additional information please contact:
Integra Grouphttp://www.integra.ru
Andrei Machanskis, Head of Investor Relationsamachanskis@integra.ru Tel. +7 495 933 0621
Alla Sapun, Press Secretaryasapun@integra.ru Tel. +7 495 933 0621
Financial DynamicsJonathon Brill / Edward WestroppLondon+44 20 7269 7170
Anna ShumaylovaMoscow+7 495 795 0623
Forward looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.