OREANDA-NEWS  On 08 October Integra Group (LSE:INTE), a leading Russian independent provider of onshore oilfield services, announced that it had signed several long term cooperation agreements with TNK-BP. The agreements cover development and sidetrack drilling projects to be executed in the Khanty-Mansiisk Autonomous District and at the Verkhnechonskoe oilfield in Irkutsk region. The contracts were signed by Integra Group’s subsidiary Integra-Bureniye.

The duration of the agreements is from 2008 to 2010 and throughout this period Integra-Bureniye undertakes to drill 129 development wells and conduct 63 sidetrack operations. In total 490,000 meters will be drilled throughout the life of the contracts.

Felix Lubashevsky, Chief Executive Officer of Integra Group, said:

“We see an increasing stream of long-term contracts emerging in the Russian oilfield services market. Such contracts bring stability and predictability to our relationship with customers and allow us to better plan our operations, development investment and financing. These particular contracts, which amount to over USD 150 million, will provide a stable utilization of several drilling crews for the next three years. For our customer, such agreements secure access to drilling capacity and crews in an environment where there is a growing deficit of spare OFS equipment and personnel.”