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Eurasia Drilling says 2012 net profit up 35 pct
April 2, 2013 / 6:36 AM / 4 years ago

Eurasia Drilling says 2012 net profit up 35 pct

MOSCOW, April 2 (Reuters) - Russia’s biggest oilfield services company Eurasia Drilling said on Tuesday its 2012 net income jumped 35 percent, year-on-year, to $382 million on the back of strong demand.

The company also said it had signed a new agreement with Russia’s second-largest oil producer LUKOIL for onshore drilling and completion operations, running through to the end of 2015.

The group’s revenues increased 17 percent to $3.2 billion, while earnings before interest, taxation, depreciation and amortisation (EBITDA) rose 31 percent to $790 million, slightly above its guidance.

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