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Our onshore drilling services include the construction of production, exploration and appraisal oil and gas wells and certain other types of wells, including vertical, deviated and horizontal wells, ranging from a depth of approximately 1,200 meters to more than 5,000 meters. In addition, through the onshore division we provide a wide range of workover services, including sidetracking.
We provide our onshore drilling services in several major onshore oil and gas regions of the Russian Federation, by OOO BKE through its Western Siberian, Perm, Nizhnevolzhsk, and Usinsk branches and OOO SGK, a company acquired in April, 2011 from Schlumberger, through its Western Siberian branches.
Our customers include a number of the major Russian integrated oil and gas companies such as LUKOIL, Rosneft, Gazpromneft and TNK-BP.
Our operational objective is to deliver value added services to our clients while continuously improving the quality of our asset base. We continue to adopt new drilling technologies and techniques in order to be in a position to satisfy our customers’ demands for more technologically advanced and complex services like horizontal drilling, underbalanced and multilateral drilling. We have established a strong presence within our served markets. We are the largest independent drilling Company in Russia by meters drilled and rig fleet size.
Our rig fleet as of December 31, 2011 totaled 258 onshore drilling and sidetracking rigs and 330 workover rigs. Our rig fleet possesses the range of technical characteristics that allows us to drill wells of all depths that are common in the regions of Russia where we operate. All of our drilling and workover rigs are certified to be in operating condition. Our drilling rig fleet is distributed among each of the key oil producing regions of Russia. This enables us to respond quickly to shifts in demand from customers in the Russian onshore oil and gas industry.
As of December 31, 2011 the workover force of EDC was over 20 000 employees.
Transaction with Schlumberger
In the end of April 2011, we completed a transaction with Schlumberger, the world’s leading oilfield services company, to exchange assets and to enter into a Strategic Alliance in the CIS. Schlumberger sold all its drilling, sidetrack and workover rigs currently operating mainly in West Siberia to EDC. Schlumberger purchased the Company’s drilling services businesses, which include the directional drilling, measurement while drilling, cementing and drilling fluids services to support 80 rigs. The field crews to support delivery of these services were transferred to Schlumberger. In addition, Schlumberger and EDC entered into a strategic alliance upon completion of the transaction whereby Schlumberger became the preferred supplier of drilling services to Eurasia Drilling Company for a 5-year period.
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