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About the Company

History


In November 2004 Eurasia Drilling Company Limited signed an agreement with OAO LUKOIL on acquisition of 100% interest in the authorized capital of OOO LUKOIL-Burenie, which was later renamed into OOO Burovaya Kompaniya Eurasia.

In 2004 OAO LUKOIL-Burenie drilled 1,396 million meters.

2005 on January 1, 2005 BKE commenced performing work for OAO LUKOIL under a five-year framework drilling services agreement as well as to render services to other Customers. The head office of the Company was relocated from Samara to Moscow.

BKE was awarded a contract to drill development wells in the Yuzhno-Khylchuyuskoye Field, within the framework of the project pursued by JV Naryanmarneftegaz set up by LUKOIL and ConocoPhillips.

The HSE management systems of OOO Burovaya Kompaniya Eurasia were successfully audited and recognized satisfying the international standards ISO 14001:2004 (environmental protection) and OHSAS 18001:1999 (health and industrial safety).

As of the end of 2005 the Companys crewcount totaled 190 crews including 77 drilling, 4 sidetracking, 34 completion, 34 rig building and 41 workover crews.

In 2005 the Company drilled 1,699 million meters and 652 wells.

2006 BKE completed restructuring by consolidating its subsidiaries and establishing a unified branched organizational structure including five branch offices, i.e. Western Siberia, Perm, Volga Region, Naryan-Mar and Usinsk branches.

Within the framework of its rig fleet technical upgrade program BKE purchased drilling rigs from several manufacturers including ZAO Izhdrill Xun Xua, LeTourneau Ellis Williams Company Inc., Bentec Drilling and Oilfield Systems GmbH and ZAO Uralmash Burovoye Oborudovanie.

As of the year-end total number of crews increased by 26 reaching 216 crews including 96 drilling, 8 sidetracking, 42 completion, 36 rig building and 34 workover crews.

In 2006 the Company drilled 2,495 million meters and 898 wells.

2007 after BKE was awarded a contract by OAO Rosneft it commenced drilling wells in the oilfields of its subsidiary, OOO RN-Yuganskneftegas. Additionally, the Company was awarded a contract by TOO Kazakhoil Aktobe for drilling wells in the Alibekmola Field (Kazakhstan).

The Company acquired mobile drilling rigs from OOO Generatsiya, ZAO Izhdrill Xun Xua and China Petrochemical International Co.

On November 2, 2007 Eurasia Drilling Company Limited (EDC) holding interest in a group of companies including in BKE, was listed in the London Stock Exchange as a part of initial public offering (IPO) process thus going public.

Overall number of crews increased by 46 crews and reached 262 crews including 111 drilling, 12 sidetracking, 49 completion, 42 rig-up and 48 workover crews.

In 2007 the Company drilled 3,268 million meters and  1174 wells.

2008 the Company was awarded by ZAO Vankorneft (a Rosneft subsidiary) a contract for drilling development wells in the Vankor Field.  In July BKE finalized all rig-up operations and commenced drilling the first well by using new Uralmash-4500/270 Drilling Rig.

In 2008 the Company drilled 4,020 million meters and 1472 wells.

2009 - in the end of October the Company acquired from OOO LUKOIL Zapadnaya Sibir workover assets, i.e. OOO Kogalymskoye Upravlenie Remonta Skvazhin operating 150 rigs and employing 107 workover crews.

In 2009 BKE drilled in Russia 3,750 million meters and commissioned to its customers 1329 wells.

2010 in 2010 BKE drilled in Russia 4,078 million meters and commissioned to its customers 1,416 wells.

In March 2010 Ermak Drilling Rig 6500/450 was completed in Kaliningrad. After BKE was recognized a winner in the tender held by TNK-BP in May 2010, BKE commenced drilling wells in West Siberia for OAO TNK-Nyagan. In October 2010 it started rendering drilling services to OAO Orenburgneft, an affiliate of producing company TNK-BP.

In October 2010 a newly set up Kaliningrad Expedition of BKE commenced implementation of a drilling project.

In December 2010 the Companys Board adopted a new Development Strategy stipulating renovation of BKE fixed assets as a direction of its development. Additionally, the Strategy provides for implementing 2010 2014 Technical Upgrade and Modernization Program under which the Company placed orders for 14 drilling rigs.

2011 in 2011 BKE drilled in Russia 4,247 million meters and commissioned to its customers 1,431 wells.

In 2011 it was resolved to further restructure the Company by spinning off non-drilling assets (including transportation, workover as well as repairs and maintenance business units) into independent companies within EDC Group. The objective of restructuring was to bring drilling companies down to the drilling crew drilling rig level.

2012 in 2012 BKE drilled in Russia 4,918 million meters and commissioned to its customers 1,674 wells.

On May 1, 2012 BKE sold its workover assets to OOO KRS Eurasia that formed the basis for establishing a new Usinsk Branch of KRS Eurasia.

2013 in 2013 BKE drilled in Russia 5,089 million meters and commissioned to its customers 1,672 wells.

In the beginning of 2013 repairs and maintenance workshops of the BKE West Siberia Branch were transferred to OOO BPO Service.

2014 in 2014 BKE drilled in Russia 4,566 million meters and commissioned to its customers 1,428 wells.

The BKE technical capacities based in
West Siberia were subject to further restructuring. Thus, assets of rig building business units as well as repairs and maintenance shops were spinned off into separate independent business units, i.e. OOO VMU and OOO BPO Service, which continued to perform work as subcontractors.

Assets of the Specialized Transportation Department under the BKE Perm Branch were transferred to a newly established company OOO Perm STU.

2015
in 2015 BKE drilled in Russia 3,601 million meters and commissioned to its customers 1,108 wells.

In November 2015 ultimate parent company Eurasia Drilling Company completed delisting of its Global Depositary Receipts from the London Stock Exchange thus going private. Such restitution of a former legal form allows it maximum flexibility and more efficient management in the current economic environment.

2016
Powers and authorities of a sole management body of BKE were transferred to OOO Eurasia Management, a management company within EDC Group.

OOO Burovaya Kompaniya Eurasia
40 bld. 2, Narodnogo Opolcheniya,
123298 Moscow, Russia

. +7 (495) 961 0252, f. +7 (495) 961 0255

E-mail: bke@bke.ru

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