Targin ,Oilfield Services Company was founded under the name Bashneft-Service Assets in 2010 as a subsidiary of the vertically-integrated JSOC Bashneft .
After being formed from many small services companies, the holding company gradually structured itself and focused on development of four main areas of activity: drilling, well repair, mechanical services and transport services.
The company has been operating independently of JSOCBashneft since October 01, 2013. Today its sole owner is Sistema JSFC.
To ensure its development as a strong independent player in the Russian oilfield services market, the company underwent rebranding in June 2014 and now it is operating under the brand “Targin”.
Targin is a large Russian oil field service holding operating in Bashkortostan, the Nenets Autonomous District and West and East Siberia. The Targin Group comprises the Management Company and subsidiaries providing the services of well drilling and workover, mechanical maintenance and transportation.
Sistema acquired Targin in 2013, and performed equipment upgrade and business restructuring in 2014. The merger of the Group's entities was completed in accordance with the "one segment – one company" principle, which should help to cut the costs going forward.
The approved investment program would bring the company's technological equipment to the level of best industry practices. About 40% of investment in 2014 went into developing production, with the drilling segment accounting for ca. 63% of total expenses.
Targin's strategy focuses on expansion of the market share and diversification of customer base by providing high-tech full-cycle services. The Drilling segment is going to develop the turn-key services of well construction and new areas of services in alignment with the development of the Russian oil and gas industry.
Well maintenance and workover
165 crews are operating continuously, equipped with hoist units with a capacity of 40-100 tones. This lifting capacity is sufficient to ensure high-quality performance of works at wells up to 5,500 meters in depth.
Manufacture and maintenance of oil-field and drilling equipment
The main focus of this segment's activities are: manufacture and upgrade of oil-field, drilling and power generation equipment and tools; integrated cycle services: manufacture, installation, testing and commissioning, technical inspection, maintenance. Along with innovations, the company also performs a large quantity of regular maintenance and overhaul work on pump jacks (16 000 units/year) and electric submersible pumps (5000 units/year).
The company's car fleet currently exceeding 5000 vehicles continues to grow and is upgraded on an annual basis.
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