“Pradvinskaya Geological Prospecting Expedition” Ltd. has finished a complex of works for the company’s preparation to attract a strategic investor. Pravdinskaya Geological Prospecting Expedition (the PGPE) was set up in 1964 for geological exploration of the richest hydrocarbon provinces of West Siberia. Today it is one of the key geological prospecting Russian companies with a 45 year history, the volume of executed orders in 2008 has made 7,5% of the volume of prospecting drilling in Russia and 76% in the Tyumen Region. Clients of the Company include all leading oil and gas companies operating in the region – TNK-BP, Rosneft, Gazpromneft, Shell. The company also successfully cooperates with medium and small oil companies, as well as completes orders of federal and regional governments. Since the foundation of the Company by geologists, 56 deposits have been discovered, including such significant ones as Salym group of deposits, Prirazlomnoye, Priobskoye, Pravdynskoye, Kamynskoye, Sakhalin, a group of deposits in the Uvatsk area. The Company's strategy provides maximum use of competitive advantages of the PGPE to realize the opportunities provided by favorable market conditions. Medium-term program of the Company's development plans to achieve a drilling mark of 204 thousand meters per year by 2014. The PGPE intends to develop business both within the Tyumen Region and by means of a balanced geographical expansion. The general agent role to attract a strategic investor for PGPE is carried out by the International Corporation “SMOLENTSEV and Partners”. Presentations for the potential investors of Pravdinskaya Geological Prospecting Expedition, IC “SMOLENTSEV and Partners” is starting a road-show around Europe and North America. Using the road-show instrument, IC “SMOLENTSEV and Partners” goal is to show potential foreign investors an opportunity of partnership with one of the key Russian geological prospecting companies, as well as to show broad opportunities and big perspectives of conducting business in Russia, which remains one of the most attractive world markets.
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