OREANDA-NEWS. On 06 March 2008 was announced, that Integra Group, a leading Russian independent provider of onshore oilfield services, announces its operating performance for full year 2007 and order book estimate for 2008

In 2007 Integra Group’s Oilfield Services Division drilled 440 thousand meters, built a total of 190 wells and conducted 918 workover operations. During the year there has been an ongoing reduction of lower margin vertical drilling volumes and their simultaneous replacement with more complex deviated and horizontal drilling volumes. This trend has resulted in a reduction of overall meters drilled which comes on the back of the increased number of commissioned wells. In the workover business due to increased sophistication of operations there has been a nearly 15 % increase in billed crew-hours on the back of a reduction in number of operations performed.

In the Formation Evaluation Division Integra Group’s seismic subsidiaries and associates carried out 20,272 km of two-dimensional (2D) surveys, 6,155 sq. km of three-dimensional (3D) surveys, while well geophysics units carried out over 24,700 logging operations. The overall increase in seismic volumes resulted from higher utilization of our existing capacity and a strong pick-up in 2D seismic volumes in the fourth quarter of 2007.

Integra Group’s Equipment Manufacturing Division had more than doubled the number of heavy drilling rigs in production to 28 rigs from 11 rigs at the end of 2006. A total of 3 rigs were commissioned to our customers in 2007 with another 3 rigs being at over 94% completed at the end of 2007. The rig modernization business grew by 19% with 19 rigs modernized and upgraded in 2007. Cementing complexes production has nearly doubled to 11 with the launch of the next generation model in 2007.

Operating performance data is presented on a pro-forma basis and might include historical data based on the available records of companies acquired by Integra Group during 2005 and 2006.

The operating data in this release is based on management assessment and might be subject to adjustment during the preparation of Integra Group’s financial statements for 2007. Pro-forma figures presented in this release may differ from consolidated operating statistics supplied with our audited financial statements.

2008 Order Book
As of February 19, 2008 Integra Group had signed contracts and won tenders for over US$ 1,107 mln revenue for services and equipment to be delivered to customers during the current year.