TNK-BP is a leading Russian oil company and is among the top ten privately-owned oil companies in the world in terms of crude oil production. The company was formed in 2003 as a result of the merger of BP’s Russian oil and gas assets and the oil and gas assets of Alfa, Access/Renova group (AAR). BP and AAR each own 50% of TNK-BP. The shareholders of TNK-BP also own close to 50% of Slavneft, a vertically integrated Russian oil company.
TNK-BP is a vertically integrated oil company with a diversified upstream and downstream portfolio in Russia and Ukraine. The company’s upstream operations are located primarily in West Siberia (Khanty-Mansiysk and Yamalo-Nenets Autonomous Districts, Tyumen Region), East Siberia (Irkutsk Region), and Volga-Urals (Orenburg Region). In 2010 the company produced on average 1.74 mboed (excluding its 50% share in Slavneft).
The independent audit conducted by DeGolyer and MacNaughton confirmed that as of 31 December 2010 TNK-BP’s Total Proved Reserves amounted to 13.1 billion barrels of oil equivalent, applying PRMS (formerly SPE) criteria. Proved Reserves constitute a Total Proved PRMS reserve replacement ratio of 322%.
Under SEC methodology on a life of field (LOF) basis, TNK-BP’s Total Proved Reserves were 8.8 billion barrels of oil equivalent. This represents a Total Proved SEC (LOF) reserves replacement ratio of 134%.
TNK-BP controls 732 thousand bbl/day in installed refining capacity, with principal refining assets located in Ryazan(near Moscow), Saratov (Volga-Urals),Nizhnevartovsk (West Siberia) and Lisichansk in Ukraine.
TNK-BP operates a retail network of close to 1,490 filling stations in Russia and Ukraine working under the BP and TNK brands. The company is one of the key suppliers to the Moscow retail market and is a market leader in Ukraine.
TNK-BP is headquartered in Moscow and is governed by a multinational management team with experience of working in over 50 different countries. A blend of the best international and Russian talent ensures accelerated introduction of world-class technology, project management, corporate governance and best Health, Safety and Environment practices.
TNK-BP employs approximately 50,000 people, mostly located in eight major areas of Russia and Ukraine.
TNK-BP is a signatory to the World’s Economic Forum Partnering Against Corruption Initiative (PACI).