OREANDA-NEWS. October 4, 2011. Integra Group (LSE: INTE) announces that it has closed the deal on acquisition of SIAM Company (SIAM), a leading Russian oilfield services company specializing in wireline and slickline services, production logging and testing. Integra paid RR2.2 bln (USD 71 mln) which was financed by a combination of internal cash resources and use of existing debt facilities. The Company has been acquired on a cash free and debt free basis. Acquisition of SIAM provides new opportunities for further expansion of Integra’s portfolio of technology services and reinforces the Company’s position as the leading Russian provider of complex OFS solutions at all stages of oilfield development. SIAM’s results of operations will be consolidated into the Group’s financial statements starting from 4Q 2011.

Integra Group is a diversified oilfield services provider and is also a manufacturer of specialized equipment used in the exploration, development and production of oil and gas. Integra operates in all major oil and gas producing regions in Russia and in many other CIS countries, where its customer base includes major domestic and international oil and gas companies. 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 and CIS market. Following the SIAM integration Integra Group employs about 16,000 people. Since February 27, 2007 Integra Group has been traded on the London Stock Exchange (symbol: INTE).