Russian INTEGRA Company Considers Possibility of Manufacturing Oil Equipment in Azerbaijan
Azerbaijan, Baku, 21 April / Trend / INTEGRA, the leading Russian oilfield service provider, considers the possibilities of co-operation with the Azerbaijani machine-building enterprises, manufacturing oil equipment, to establish production in the country.
The representatives of Company got familiarized with the production in several plants in the Republic, said Mark Sadykhov, First Deputy Chairman of Management Board, in Baku.
INTEGRA intends to expand its participation in Azerbaijan. The Company provides high-quality and cost-effective services including drilling, workovers, well logging, integrated project management, geophysical surveys, as well as manufacturing and repair of drilling and cementing equipment and tools. Integra Group today comprises of more than 40 oilfield services and petroleum engineering companies
In Azerbaijan, INTEGRA co-operates with big participants of the market such as ВР, Gobustan operating company and many others. There are intentions to expand co-operation with the extractive companies in the country at an expense of providing their own services, Sadikhov said.
INTEGRA considers a possibility to carry out offshore seismic works as well (currently the company carries out only onshore works). It may take place through acquisition or leasing of the vessels.
Profits of the company, for the nine months of 2007, totaled more than $800mln. In 2007, the portfolio of orders on services and equipment supply totaled more than $1.1bln.