31 Mar 2009 10:04
Moscow, March 31, 2009
Integra Group signs a contract to manufacture four drilling rigs for Rosneft
Integra Group (LSE:INTE), a leading Russian independent provider of onshore oilfield services and manufacturer of oilfield services equipment, announced that its manufacturing division Uralmash-Burovoye Oborudovaniye has signed a contract with RN-Bureniye, a Rosneft subsidiary to manufacture four stationary drilling rigs. The order was received as a result of the earlier tender held by Rosneft.
The drilling rigs (type: BU500/320 BM Ch) are expected to be used for exploration drilling.
Commenting on the deal Vitaly Tkachev, Integra's Executive Vice-president for Manufacturing, said:
"We continue our cooperation with Rosneft. At present there are three rigs being manufactured by Uralmash-Burovoye Oborudovaniye for Rosneft under earlier contracts and four rigs are in the final assembly stages. Another five rigs are already successfully working at Rosneft's fields. This new agreement for four rigs shows that Rosneft continues to view us as a reliable and quality supplier."
"This new order demonstrates that demand for drilling equipment in Russia is still present. At the same time global economic changes have significantly increased the price competitiveness of domestic producers."
Notes to editors
About 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 17 strategic acquisitions, become one of the leading companies in the oilfield services and equipment manufacturing sectors of the Russian market and employs more than 20 000 people.
Since February 27, 2007 Integra Group has been traded on the London Stock Exchange (symbol: INTE).
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Contacts
| Integra Group | ||
| Andrei Machanskis | Head of Investor Relations | Tel. +7 495 933 0621 amachanskis@integra.ru |
| Sergey Beldinsky | Head of Public Relations | Tel. +7 495 933 0621 sbeldinsky@integra.ru |
Forward looking statements: 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.
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