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Integra brochure
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June 04, 2008

Integra Group supplies next heavy drilling rig to Gazprom


 Moscow, 4 June 2008
ZAO “Uralmash – burovoe oborudovanie” (UrBO, Ekaterinburg) – subsidiary of Integra Group – today undertook the fit-up and presentation of heavy drilling rig BU 4200/250. The rig has been produced under the contract with OOO Gazkomplectimpex for “Gazprom”. Under the contract, 11 rigs will be supplied in total.

Fit-up was initiated by the Customer and will allow the assembling time of the drilling rig in the field to be reduced, as well as facilitating the functioning of rig-up teams in the extreme arctic conditions of North Siberia.  The rig has been given the name ‘Ekaterina’ after Ekaterinburg where it was produced.  It will be supplied to Bovanenkovskoe field of Gazprom.

During the presentation Vitaliy Tkachev, Integra’s Executive Vice President for Equipment Manufacturing and President of Uralmash-VNIIBT, said:

“Uralmash – burovoe oborudovanie” is a business with extensive engineering and production capabilities. Our aptitude for working within construction and engineering allows us to follow accurately all contracts’ conditions and the specific requirements of the Customer.”

“For Gazprom we found an opportunity to produce two more rigs ahead of schedule. During the summer, a total of three rigs will be supplied for work in Yamal. The competence and proficiency of UrBO’s team make us believe that all contractual commitments will be satisfied in full and on schedule”.

Commenting the work of “Uralmash – burovoe oborudovanie”, Andrey Rossinskiy, General Director of OOO Burgaz (drilling company of Gazprom), said:

“As a customer we are completely satisfied with the work done by “Uralmash – burovoe oborudovanie”. Before we started our cooperation we conducted a detailed review of the design, engineering and production capabilities of the project team and were entirely satisfied.

“We have a positive impression from joint work with this contractor, product quality and time of delivery, which is currently ahead of schedule. We are assured of a successful long term cooperation with “Uralmash – burovoe oborudovanie”.
Note to editors

About “Uralmash – burovoe oborudovanie”

In September 2005 Integra Group acquired ZAO Uralmash- burovoe oborudovanie, which became the owner of technical and engineering documentation for drilling rig manufacturing. A total of 246 engineers have been transferred to UrBO. Under the license agreement UrBO has the rights to use URALMASH trademark for its equipment.

In the three years following the acquisition of UrBO, the Group reestablished the production of drilling equipment. UrBO has received large orders from Gazprom for the production of 11 heavy drilling rigs and from Rosneft for 4 heavy drilling rigs. As a result, in 2007 the number of full set drilling rigs produced increased to 28 from just 2 in 2005.

In the past few years “Uralmash – burovoe oborudovanie” created one of the biggest engineering centers in Russia and completed a large production modernization program. In 2007, 110.7 mln roubles were invested in the development of the plant (2006: 93 mln roubles). In three years, 420 new jobs were created at the site and the average salary grew to 32.6 th roubles (2006: 23 th roubles). In 2007 “Uralmash – burovoe oborudovanie” paid to all budget levels, 1.139 bln roubles of taxes which is three times higher than taxes paid in 2006.

As part of production expansion “Uralmash – burovoe oborudovanie” launched the subsidiary in Tyumen on the basis of assets of the Tyumen shipbuilding plant (TSZ). Production at TSZ was revived almost from scratch. Extension of production to TSZ resulted in absolute independence of “Uralmash – burovoe oborudovanie” from Uralmash supplies.

Integra Group

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 22 000 people.

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

For further information please contact:

 

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

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.