OREANDA-NEWS. July 29, 2009. Meetings of the Boards of ITERA International Group of Companies and ITERA Oil and Gas Company were held recently, reported the press-centre of ITERA.

During these meetings, progress in implementation of the 2009 business plan and budget was reviewed. ITERA Group's Chairman of the Board of Directors Mr. Igor Makarov emphasized that "despite the complex situation induced by the world financial and economic crisis, we're successful in meeting the key objectives of our business plan". The outcome "is so far encouraging and I hope that by the end of this year we would be proud to say that we had made it through", - he stressed out.

In his report on implementation of anti-crisis measures, ITERA Oil and Gas Company's Chairman of the Board Mr. Vladimir Makeev said in particular that these measures, in essence, represent a detailed road map indented to ensure that even in these difficult times the Company's contractual obligations are efficiently an uninterruptedly fulfilled.

The process of disposal of ITERA Group's non-core assets was reported to be going in accordance with the earlier approved plans.  ITERA needs this process to focus its financial resources on further development of the gas business which, as before, remains the Group's main activity.