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Weatherford Acquires Major Oilfield Assets in Western Siberia

15.10.2012

Weatherford International (NYSE / Euronext Paris / SIX: WFT) today announced the finalized acquisition of Belorusskoe Upravlenie po Povysheniyu Nefteotdachi Plastov i Kapitalnomu Remontu Skvazhin (BUPNP & KRS). The enterprise is based in Nizhnevartovsk and its activities will be coordinated and managed by Weatherford’s Siberian division and its subsidiary entities.

BUPNP & KRS, Open Joint Stock Company specializes in well servicing and workover and has been providing oilfield services within the region for more than 26 years. The company has approximately 1,300 employees, with 54 well servicing and workover crews providing services to several key operators in the Western Siberia market.

“This year we celebrated a milestone with our 10th anniversary of operations in Russia and are continually striving to establish ourselves as the leading oilfield service company in this strategically important region for Weatherford,” commented Lance Marklinger, regional vice president for Weatherford in Russia. He continued, “We will continue implementing our long-term development strategy for Russia, with a focus on expanding our service offerings and geographic footprint in several key regions. BUPNP & KRS will further support this strategy and we welcome their fine team to our organization.”

Weatherford is a Swiss-based, multi-national oilfield service company. The company is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 100 countries and employs over 60,000 people worldwide.
 



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