MIOGE 2013 Oil&Gas; Exhibit Opens in Moscow Heat

June 25, 2013

The MIOGE exhibit and Russian Petroleum and Gas Congress (RPGC) is traditionally one of the most important events in the Russian oil and gas industry. This year, over 1,000 companies from 36 countries chose to participate and showcase not only their new products to the market, but also new technologies for exploration and production and much more. Russian parliamentarian and first deputy chair of the parliamentary committee on energy, Vasiliy Tarasyuk, emphasized that new technologies play large role in attracting new investments to the Russian economy. Tarasyuk expressed his hope that the technologies and solutions for the oil and gas industry on display at the ExpoCenter this year would be successfully employed by Russian and foreign companies in production.

In his statements during the opening ceremonies, Union of Oil & Gas Producers of Russia President Gennadiy Shmal also stressed the importance of exchanging the experience and technologies which are a core component of MIOGE and a determining factor in the development of the sector as a whole.

Shmal said that the shale revolution about which so many are talking today, does not exist, stating: "There is no shale revolution — there is a revolution in technologies". He added that Russian companies had already made a breakthrough in this area at development of the Bazhenov and Achimovkoye reserves and noted that visitors to MIOGE could learn more in depth about these solutions during the Russian Petroleum and Gas Congress.

VNIPINeft General Director Vladimir Kapustin noted that the Russian refining industry was undergoing rapid modernization. He said that in the next two years the country would complete its move to meeting world environmental standards and would produce only Class 4 and 5 gasolines. He stressed that this would not have been possible without the technologies on display at the exhibit.

In conclusion, ITE General Director Aleksandr Shtalenkov again welcomed all the participants and guests as the ribbon was cut and the MIOGE 2013 exhibit was officially opened.

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