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Press-releases

29.11.2011

HMS Group to implement turnkey project on a new east Siberian oilfield

Moscow, Russia – HMS Group (LSE: HMSG), the leading pump manufacturer and provider of flow control solutions and engineering services for oil and gas fields in Russia and the CIS, today announces signing of a contract totalled Rub 1.8 billion (app. $57.2 mn,) after winning the competitive tender process.

Within the framework of the project the Group will render a broad range of engineering services, including project design, procurement, manufacturing of pumps and other oilfield equipment as well as overall project management on Srednebotuobinskoe oil and gas condensate field in the Republic of Sakha with explored reserves of apprx. 122 mn tn.  

Artem Molchanov, Managing Director (CEO) of HMS Group, commented:

“I’m pleased to say that being a good example of the large-scale turnkey solution to be executed in a harsh environment this project represents the next stage of HMS group strategy implementation. Last year we completed the acquisition of GTNG, one of the largest project and design facility in Russia. It allowed us to offer principally new level of technologically advanced project design combined with manufacturing and engineering expertise.  Looking forward, I believe that ambitious development plans of oil and gas majors on green- and brown field projects create new opportunities for us to deploy platforms of similar complexity”.

***

The HMS Group is the leading pump manufacturer and provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. The HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia’s core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. The Group reported revenues of RUB 13.9 billion, adjusted EBITDA of RUB 3.1 billion and profit of RUB 2 billion for the six months ended June 30, 2011. The HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.


For further information, please contact:

Sergey Klinkov
Head of IR 
Tel: +7 (495) 730-66-01, ext. 1302
klinkov@hms.ru

 

Nozima Karimova
Head of Press Service
Tel: +7 (495) 730-66-10
karimova@hms.ru

DISCLAIMER

THIS COMMUNICATION DOES NOT CONSTITUTE AN OFFER OF, OR THE SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR, GDRs OR OTHER SECURITIES TO ANY PERSON IN ANY JURISDICTION TO WHOM OR IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL AND, IN PARTICULAR, IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE RUSSIAN FEDERATION.

THIS ANNOUNCEMENT IS NOT AN OFFER FOR SALE OF ANY SECURITIES IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THE HMS GROUP HAS NOT REGISTERED AND DOES NOT INTEND TO REGISTER ANY PORTION OF ANY OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF ANY SECURITIES IN THE UNITED STATES.

THIS COMMUNICATION IS ONLY BEING DISTRIBUTED TO AND IS DIRECTED ONLY AT (I) PERSONS WHO ARE OUTSIDE THE UNITED KINGDOM OR (II) INVESTMENT PROFESSIONALS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE “ORDER”) AND (III) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY LAWFULLY BE COMMUNICATED, FALLING WITHIN ARTICLE 49(2) OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT ARE ONLY AVAILABLE TO, AND ANY INVITATION, OFFER OR AGREEMENT TO SUBSCRIBE, PURCHASE OR OTHERWISE ACQUIRE SUCH SECURITIES WILL BE ENGAGED IN ONLY WITH, RELEVANT PERSONS. ANY PERSON WHO IS NOT A RELEVANT PERSON SHOULD NOT ACT OR RELY ON THIS DOCUMENT OR ANY OF ITS CONTENTS.


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