OREANDA-NEWS. On 03 April 2008 Integra Group, a leading Russian independent provider of onshore oilfield services, announced changes in its corporate management structure relating to the distribution of responsibilities of top management.

Mark Sadykhov, Executive Vice President for Oilfield Services, has been appointed First Deputy Chairman of Management Board (First Deputy CEO). Mr. Sadykhov’s responsibilities have been broadened to include corporate strategy and development, M&A, planning, performance management, and business process re-engineering.

The responsibilities of Felix Lubashevsky, President and Chairman of Management Board (CEO), now include direct operational management and control over execution of business plans, corporate restructuring and implementation of the strategy.

In addition, the Management Board has been expanded to 11 members due to the increased role of key oilfield services divisions. The new members of the Management Board, who have all received the status of executive vice presidents, are:

• Lev Goldenberg (Drilling, Workover and IPM);
• Grigory Bistritskiy (Formation Evaluation);
• Marat Muftakhov (Technology Services);

Commenting on the corporate governance changes, President and CEO Felix Lubashevsky said:

“We are currently in the process of a planned restructuring which is aimed at increasing the manageability, efficiency and coordination between the Group’s divisions. Mark Sadykhov, in his new capacity will have greater opportunities to realize his potential as a strategist, business-creator, strong analyst and high caliber professional.

“In addition, driven by the growth in scale of our business, broader managerial roles will be given to the heads of our major divisions, each bringing about one quarter of Group’s revenue, - drilling, formation evaluation and technological services.

“I am confident that these changes will allow us to use our management resources more efficiently and also provide us with greater flexibility to react to changes in the market.”