Integra brochure
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April 24, 2008

Integra Group opens representative office in Azerbaijan


The opening ceremony was attended by the Russian Embassy representative in The Republic of Azerbaijan, the Trade representative for Russia in the Republic of Azerbaijan, representatives of the Azerbaijan State Oil Company (SOCAR) and representatives of Russian and international oil and gas, oilfield service and engineering companies.

Integra Group already has experience of operating in the Azerbaijan. Smith Eurasia, which became part of Integra from 2006, supplied drilling equipment and tools as well as integrated project management services to this market. In 2007 another Integra Group subsidiary, Tyumenneftegeophizika, worked on a joint project with SOCAR, which involved 2D and 3D seismic surveying of the fields operated by the Gobustan Oil Operating Company.

The representative office has been established with the aim of market research and creating conditions for the Group’s balanced development in the region.

During the opening ceremony Mark Sadykhov, First Deputy CEO of Integra Group, said:

“We consider the Azerbaijan market to be one of the most prospective in terms of cooperation in oilfield engineering and oilfield services.

“We are looking forward to building an effective and mutually beneficial cooperation with SOCAR. Integra Group is interested in promoting its drilling, seismic, downhole services in the region, which we believe will be in great demand in Azerbaijan with its high concentration of aged fields, which require high tech seismic surveys in order to improve their efficiency.

“Traditionally Azerbaijan has always been a producer of oil equipment. In our opinion, this sector has the most favorable prospects for our manufacturing enterprises in terms of cooperation in production of oil & gas equipment in the area.

“Finally, we are interested in partnership with Azerbaijan companies in the area of education and exchange of experience. The representatives of the oldest school of oil engineers in the world, based in Baku work for Integra Group and I am sure that cooperation between our employees and that of other Azerbaijan Companies will become mutually beneficial for both our company and Azerbaijan”.

Notes for editors

About oil and gas industry in Azerbaijan

According to the official statistics, in 2007 oil production in the Republic was 41.7 million. tones, 32.9 million tones of which were produced by international companies consortium, operating under the production sharing agreements at Azeri-Chirag-Gyuneshli field, and 8.8 million tones were produced by SOCAR.  According to expectations, in 2008 oil production will reach 52 million tones, in 2009 – about 61 million tones. Since the launch of oil production in Azerbaijan more than 1.5 billion tones of oil have been produced.

About Integra Group:

Integra Group is a leading Russian independent provider of onshore oilfield services. 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 14 strategic acquisitions, become one of the leading companies in the oilfield services and equipment manufacturing sectors of the Russian and CIS market and employs approximately 22,000 people.

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

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For additional information please contact:

Integra Group

Alla Sapun

Press secretary  Tel: +7 495 933 0621

asapun@integra.ru

http://www.integra.ru

Andrey Machanskis

IRDirector Tel: +7 495 933 0621

amachanskis@integra.ru

Financial Dynamics

Jonathon Brill / Edward Westropp

London

Galina Lyssenko

Moscow

 +44 20 7269 7170

+7 495 795 0623

Galina.lyssenko@fd.com
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.