TNK-BP in the news

Oil & gas company TNK-BP is not planning to enter the Russian electricity market as a major electricity producer, but is considering projects to build new generating sets for its own needs, and also to utilize associated gas from its fields.

TNK-BP executive vice-president for technology Francis Sommer discussed the firm’s successful approach to exploiting mature fields in a recent interview with Argus.

The cost of a mortgage is returning to its previous – pre-crisis – level, which means that more and more people will start borrowing and the demand for new housing will grow.

The winning entries from TNK-BP’s 6^th corporate workshop for young specialists were submitted for the 18^th young people’s energy sector technology competition TEK-2009, which is run by the all-Russian public organization National System for the Development of Scientific, Creative and Innovative Activities by Russian Youth - “Integratsiya”, jointly with the Russian Energy Ministry.

Following a successful hydraulic fracturing programme and testing of appraisal wells No.66 at the Severo-Khokhryakovskoe field and No.60 at the Bakhilovskoe field, TNK-BP subsidiary Varyoganneftegaz has begun producing commercial volumes of oil.

TNK-BP is planning to launch commercial production from the Kulikovskiy oil & gas licence block in Saratov Region in 2014, Vladimir Meshkov, director of TNK-BP Povolzhye (TNK-BP Management’s Branch in Saratov) told journalists on Thursday.

TNK-BP plans to build a $74.7 mln bitumen unit at its Saratov Oil Refinery in 2012—14, announced the refinery’s general director, Alexander Romanov, at a press conference on Thursday. According to Romanov, the unit will produce better bitumens of reliable quality in line with Russian and European standards.

TNK-BP is introducing a new field development technology known as commingled oil production. The press service of the company’s TNK-Uvat subsidiary has announced today that the first well of this kind will be drilled at the Ust-Tegusskoe field in the south of Tyumen region as early as the end of March.

The successes of the Uvat project are impressive, especially against a backdrop of slower production growth across Russia as a whole and falling efficiency of exploration work.

The Federal Antimonopoly Service (FAS) has approved an application from OJSC Orenburgneft, part of the TNK-BP Group, to buy two companies in the Orenburg Region, according to the FAS website. The FAS has issued its permission to Orenburgneft to acquire 100% of LLC Universitet-nedra and LLC Klyuchi.