logo
Share SHARE
FONT-SIZE Plus   Neg

Integra Group Enters Into Multi-year Service Contract With JSC Yamal LNG

Integra Group (INTE.L) announced that it has signed a multi-year service contract with JSC Yamal LNG. The agreement covers development drilling services to be provided at the South-Tambeyskoye field on the Yamal peninsula on a day-rate basis. The contract has a duration from 2013 to 2018.

Integra's CEO Felix Lubashevsky said, "Long term contracts bring stability and predictability to our relationship with our customers and allow us to better plan our operations, investment and financing. This particular contract will provide for the stable utilization of our drilling crews for the next five years and will fully recover our planned investment of approximately US$30 million into brand new drilling equipment earmarked for this project. For our customer, such agreement secures access to drilling capacity in an environment of re-emerging deficit of spare OFS equipment and personnel."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Luxury coat maker Canada Goose Inc. Is reportedly planning for an initial public offering or IPO within next three months. The Toronto based winter-apparel maker aims for a valuation of up to $2 billion and to raise up to $300 million through IPO. France-based optical-lens maker Essilor International SA (EL), Delfin and Ray-Ban maker Luxottica Group (LUX) Monday announced their plan to merge in a deal valued around $49 billion. Essilor would become a holding company with the new name "EssilorLuxottic." Uncertainty has become the name of the game, as the new president is set to assume office. Groundwork is being done for major policy overhauls, with the first step towards repealing the Obamacare taken, as Senators voted 51-48 to approve a budget resolution for achieving the same. The House is set to...
comments powered by Disqus
Follow RTT