OREANDA-NEWS. Integra Group, the leading Russian independent provider of onshore oilfield services and amanufacturer of oilfield equipment, announces that it has completed the next stage of the restructuring of its drilling division and consolidation of its drilling assets into Integra-Bureniye, the press service of Integra reported.

To date, four companies: PNBK (Izhevsk), BK Sever (Nyagan), BK Argillit (Nizhnevartovsk) and Integra-KRS (Nizhnevartovsk) have been merged into Integra-Bureniye, the Company managing Integra Group's drilling assets.

The next stage of the restructuring programme will be the establishment of Integra-Bureniye branches in Volgograd, Irkutsk and Usinsk. The latter branch will be created as long as BK Aliance, the drilling company operating in Timan-Pechora, merges with Integra-Bureniye.

The result of the restructuring will be creation of six production units, operating in the following regions of Russia: Volga-Urals (Izhevsk, Volgograd), Western Siberia (Nyagan, Nizhnevartovsk), Eastern Siberia (Irkutsk), and Timan-Pechora (Usinsk). The projected branch of Integra-Bureniye in Kazakhstan, will become the seventh production unit. The new structure of Integra's drilling business (Integra-Bureniye and its subsidiaries) will enable the Group to improve the efficiency of its rig management; the restructuring process is due for completion in the beginning of 2008.

Commenting on the restructuring process, Felix Lubashevsky, President of Integra Group, said:"The restructuring of Integra's drilling division will allow us to simplify the existing structure and create a more efficient system of subsidiary networks. It will also ensure better capacity utilization, and ultimately increase the manageability of our operations and predictability of our business."