Integra brochure
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April 07, 2008

Integra Group announces changes in its corporate management structure


Moscow, 7 April 2008. Integra Group (LSE:INTE), a leading Russian independent provider of onshore oilfield services, has today announced changes in its corporate management structure relating to the distribution of responsibilities of top management.

Mark Sadykhov, Executive Vice President for Oilfield Services, has been appointed First Deputy Chairman of Management Board (First Deputy CEO). Mr. Sadykhov’s responsibilities have been broadened to include corporate strategy and development, M&A, planning, performance management, and business process re-engineering.

The responsibilities of Felix Lubashevsky, President and Chairman of Management Board (CEO), now include direct operational management and control over execution of business plans, corporate restructuring and implementation of the strategy.

In addition, the Management Board has been expanded to 11 members due to the increased role of key oilfield services divisions. The new members of the Management Board, who have all received the status of executive vice presidents, are:

• Lev Goldenberg (Drilling, Workover and IPM);

• Grigory Bistritskiy (Formation Evaluation);

• Marat Muftakhov (Technology Services);

Commenting on the corporate governance changes, President and CEO Felix Lubashevsky said:

“We are currently in the process of a planned restructuring which is aimed at increasing the manageability, efficiency and coordination between the Group’s divisions. Mark Sadykhov, in his new capacity will have greater opportunities to realize his potential as a strategist, business-creator, strong analyst and high caliber professional.

“In addition, driven by the growth in scale of our business, broader managerial roles will be given to the heads of our major divisions, each bringing about one quarter of Group’s revenue, - drilling, formation evaluation and technological services.

“I am confident that these changes will allow us to use our management resources more efficiently and also provide us with greater flexibility to react to changes in the market.”

Notes to 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 20 000 people.

Since February 27, 2007 Integra Group has been traded on the London Stock Exchange (symbol: INTE).
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.
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Contacts
 

Integra Group 

Andrei Machanskis Head of Investor Relations Tel. +7 495 933 0621

amachanskis@integra.ru
Alla Sapun Press Secretary

 Tel. +7 495 933 0621

asapun@integra.ru

Financial Dynamics 

Jonathon Brill/Edward Westropp London Tel. +44 20 7269 7170

Edward.Westropp@fd.com