Integra Group the leading Russian oilfield services provider, announces today that it has broadened the range of its technology services with the launch of directional drilling service (DDS). The Company plans to further invest around US$20 million in the development of this new product line within the next two years. Directional drilling is a highly profitable business with expected EBITDA margin in the range of 40-45%.
Smith Siberian Services (an Integra subsidiary) has established a dedicated Directional Drilling Department which will be providing engineering and technological support to the drilling process, including measurement-while-drilling (MWD) and logging-while-drilling (LWD) operations.
Directional Drilling Technology is used for cluster and multidirectional drilling in complex geological conditions where the opening of a reservoir with conventional vertical drilling is not a viable option. This technology is also used for extinguishing of burning oil and gas wells. Further development of directional drilling services is driven by the need for more effective drilling technologies at the fields with complex geology as hydrocarbon reserves with relatively benign geology become exhausted.
Commenting on the launch, Mark Sadykhov, Executive Vice-President for Oilfield Services at Integra, said, "Directional Drilling Service is a very promising market which is expected to show a strong growth in demand. In line with our business strategy and Customers’ demands we are continuously expanding the range of high-tech services on offer. Launch of the directional drillings service completes our high-tech well construction product line. We believe that this service will further reinforce Integra's competitive position in the Russian OFS market."
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