TNK-BP in the news

TNK-BP lowered its specific energy consumption for oil production by 3% in 2009, informed the press service of the company. According to the press service report, the company was planning to have this indicator decreased by 1.5 to 2% in the beginning of 2009. The technical effect of the energy-saving program of TNK-BP exceeded 395 million kW·h.

The Russo-British joint venture TNK-BP, whose anticipated share placement on the external markets in the coming years should be the largest after Rosneft three years ago, wants to expand its investor base in Asia, said the company’s Chief Financial Officer Jonathan Muir in an interview with Reuter.

This year TNK-BP will bring into operation the Tyamkinskoye deposit which makes part of the Uvat group of deposits in the south of the Tyumen Region, German Khan, TNK-BP’s Executive Director told reporters.

TNK-BP sold 38,520 tons of petroleum products at a large wholesale auction conducted by the Saint-Petersburg International Mercantile Exchange (SPIMEX), according to a corporate press release.

Vercknechonskneftegas produced 1.181 mln tons of oil in 2009 according to a company press release. Thus, its oil production plan was overfulfilled by 30%, and the well drilling plan was overfulfilled by 10%. 41 wells were drilled and prepared for operation according to the year-end data.

What did Vladimir Potanin do that might have offended the owners of Alfa Group? What is the future of TNK-BP? Why will German Khan never stop dealing with oil? Read the answers to these questions in German Khan’s interview to Vedomosti.

After a two-year break, TNK-BP is preparing for a return to the Western debt market. The company intends to issue at least $500 mln in eurobonds. A roadshow in support of TNK-BP’s new eurobond issue will kick off next Friday, sources at two investment banks told Vedomosti.

The Federal Ecological, Technological and Atomic Supervision Service of the Russian Federation (Rostekhnadzor) completed its scheduled inspection of TNK-BP and found no significant violations, the Petroleum Information Agency (ANI) was informed by Rostekhnadzor.

TNK-BP’s most mature production asset, Orenburgneft, appears to have has played a surprisingly important role in the company’s expected 2.5% crude output increase in 2009. Together with the firm’s new fields — Uvat, Verkhnechonsk and Kamennoye — Orenburgneft output helped offset a production decline of 3—4% in 2008 at the company’s west Siberian fields.

Encouraged by Orenburg’s growth, TNK-BP plans to expand its reserves base into the adjacent Samara and Saratov regions, where it holds licences for several new fields. Orenburgneft will receive $70 mln for exploration this year from its parent company — as much as TNK-BP plans to spend exploring Uvat in the southern region of Tyumen, which has been producing since February 2009.