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July 08, 2008

Integra Group and the administration of the Kostroma region sign a cooperation agreement


Moscow, 8 July, 2008. Stromneftemash (subsidiary of Integra Group) and the administration of the Kostroma region have signed a cooperation agreement.

According to the agreement, Stromneftemash will assist educational establishments in the Kostroma region to train technical specialists who will then have the opportunity of working for Integra in the future. In addition, Stromneftemash intends to invest in both its own and the region’s road infrastructure. The administration of the Kostroma region will, in turn, assist Stromneftemash in the management of industrial and social issues.

Commenting on the signed agreement Vitaly Tkachev, Integra Group’s Executive Vice President for equipment manufacturing and President of Uralmash-VNIIBT said:

“Stromneftemash, one of the Group’s three manufacturing sites, is situated in the Kostroma region. We have traditionally focused much of our attention on our Kostroma operations, the manufacturing of cementing equipment and special machinery and the numbers invested into the region speak for themselves. Integra Group has invested a total of about 700 million roubles in the restoration of the Kostroma manufacturing facility and in 2007 alone invested 136.8 million roubles. Attention to the social component of our business and to the needs of the region where we work, is a part of our strategy which we shall continue to concentrate on.

We are grateful to the authorities of the Kostroma region for their continued support since we began operations there, to get the manufacturing facility in Kostroma back on its feet. We also appreciate the ongoing relationship that we have with the authorities there.”

The Governor of the Kostroma region, Igor Slyunyaev, said the following on the conclusion of the agreement with Stromneftemash:

"Integra Group, with its subsidiary Stromneftemash has already proved to be a company with high levels of social responsibility.
Integra acquired Stromneftemash in 2006 when the business was in a dire state. During the last two years the factory has been brought back from the point of bankruptcy. The manufacturing facilities have been rejuvinated and last year a new generation cementing complex, created entirely at the Kostroma facility, was presented to the oil industry.
“Tax payments to the regional budget have increased and the number of workplaces has grown. The management of Integra have repeatedly shown integrity and proved to be a trusted business partner, which is why we are ready to support other future business endeavors of the company.”

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 17 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).
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