Izhneftemash Produces RUB 1 Billion Worth of Oilfield Equipment in 1H 2014

16.07.2014



In the six months of 2014, Izhneftemash plant, part of Rimera Group, posted a 24% rise in sales from the comparable period in 2013, selling RUB 976 million worth of oilfield equipment.

Izhneftemash Produces RUB 1 Billion Worth of Oilfield Equipment in 1H 2014

Izhneftemash Produces RUB 1 Billion Worth of Oilfield Equipment in 1H 2014

Year-on-year, the plant delivered 3 times as many well cementing units, increased production of pumpjacks by 78%, spare parts for oilfield equipment by 80%, and subsurface sucker rod pumps by 22%. Surgutneftegaz, Tatneft, and Kazakh partners are traditionally among the major buyers.
Plans for the second half of the year include stepping up production, improving product quality, and reducing the lead time. Izhneftemash plans to supply nearly RUB 2.3 billion worth of oilfield equipment to customers in 2014.
Revenue growth will be achieved by offering key customers integrated oilfield equipment solutions and expanding the geography of deliveries. “Izhneftemash is working actively to step up shipments to customers in CIS member states. In particular, we plan to deliver RUB 400 million worth of products to Kazakhstan in 2014, or 50% more than in 2013,” says Izhneftemash Executive Director Sergei Shunin. The company is also negotiating potential shipments of equipment to oil producers in Latin America: PEMEX (Mexico) and PdVSA (Venezuela).

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