Integra brochure
(pdf - 1.6 mb)


August 11, 2008

Rosatom State Corporation and Integra Group sign cooperation agreement


Rosatom State Nuclear Energy Corporation and Uralmash – VNIIBT, a subsidiary of Integra Group, have signed a cooperation agreement. Under the agreement, both parties have agreed to work together in drilling and oilfield service equipment manufacturing. In addition, they also agreed to promote their products into the Russian and international markets. To implement this agreement, joint expert and working groups will be set up to work together on the areas of cooperation. 

Both parties believe the agreement will deliver increased volumes of drilling and oilfield service equipment manufactured, as well as improve product and service quality and reduce delivery time. 

Uralmash-VNIIBT having significantly increased the volume of outsourced orders in the last five years, intends to reduce the number of contracting parties, giving a preference to large enterprises with solid production potential and unique technologies. At the same time Rosatom’s share of Uralmash-VNIIBT’s outsourced orders will significantly increase.

Vitaly Tkachev, Integra’s Executive Vice President for Equipment Manufacturing and President of Uralmash-VNIIBT said:

“We are very grateful to Rosatom State Corporation for this unique opportunity from which both parties will benefit.

“We are looking forward to combining our efforts in capturing new oilfield service equipment market opportunities, including on international markets, joining our efforts in development and marketing of new high tech oil and gas equipment.

“Together we will be able to develop programs that will replace the import of equipment delivery for Russian and international oil and gas majors. I am sure that the cooperation of Uralmash-VNIIBT and Rosatom State Corporation will become an example of effective strategic partnerships between state corporation and public Russian companies, in the sphere of production of high tech, science intensive conversion products.”

Note for editors

Rosatom State Nuclear Energy Corporation is responsible for the implementation of the unified management of nuclear energy in Russia. Rosatom unifies enterprises involved in the areas of nuclear-weapon and nuclear-energy complexes, fundamental science and radiation security.

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 Group has oilfield services operations in all major oil and gas producing regions in Russia and in many other CIS countries. Its 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 over 23 000 people.

Since February 27, 2007, Integra Group has been traded on the London Stock Exchange under the ticker symbol “INTE”.

Contacts

Rosatom State Corporation

Press Department 

Sergey Novikov

Head of Department

Tel. +7 499 949 4650

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

Galina Lyssenko

Moscow

Tel. +7 495 795 0623

 

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Integra Group. You can identify forward-looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might,” or the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. Integra Group does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in Integra Group’s projections or forward-looking statements, including, among others, general economic and market conditions, Integra Group’s competitive environment, risks associated with operating in Russia, rapid technological and market change, and other factors specifically related to Integra Group and its operations.



This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Integra Group, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of Integra Group.

This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”).  Any person who is not a relevant person should not act or rely on this document or any of its contents.

Information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in Russia or to or for the benefit of any Russian person or any person in Russia, and does not constitute an advertisement of any securities in Russia.