Exploration and production | |||
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TNK-BP controls a large and diversified exploration and production portfolio, which provides the company with considerable short-, mid- and long-term growth opportunities. Its production assets include both developed and undeveloped fields. Production growth will be supported by the implementation of new yield-enhancing technologies and optimization processes in developed fields. In the future, the development of new assets will also contribute to further production growth.
Reserves
The latest audit confirms that as of December 31st 2009, TNK-BP’s Total Proved Reserves were 11.667 billion barrels of oil equivalent, applying PRMS (formerly SPE) criteria. This represents a Total Proved PRMS reserves replacement ratio of 329% in 2009.
Beyond the proved PRMS reserve additions, about 250 million barrels of non-proved oil reserves were added through exploration and appraisal activities, marking another successful year of resource renewal.
Under SEC methodology on a life of field (LOF) basis, TNK-BP’s Total Proved Reserves were 8.586 billion barrels of oil equivalent. The addition of 1,091 million barrels of new Proved Reserves constitutes a Total Proved SEC (LOF) reserve replacement ratio of 117%. The average SEC LOF reserve replacement ratio over the past six years amounted to 139%.
TNK-BP reserves, bn boe
| Reserve | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SPE | SEC LOF | SPE | SEC LOF | SPE | SEC LOF | PRMS (formerly SPE) | SEC LOF | PRMS (formerly SPE) | SEC LOF | PRMS (formerly SPE) | SEC LOF | |
| Proved total | 9.082 | 8.017 | 9.229 | 8.230 | 8.95 | 7.81 | 9.982 | 8.225 | 10.252 | 8.112 | 11.667 | 8.586 |
Production
TNK-BP has seen double-digit growth in hydrocarbons output on its asset fields in the last few years. The significant growth was primarily due to the efficient use of production enhancement technologies and waterflood management system at mature fields. The ñompany specialists have also achieved major exploration success at TNK-BP key fields. While in 2001 TNK-BP production (excluding Slavneft) was 1.04 mboed, in 2009 it reached 1.69 mboed.
One of the advantages of TNK-BP production assets is that over 50% of total production comes from five of its largest fields, creating a considerable synergistic effect.
The company is planning to increase its production by 1 to 2% through 2010.
Gas
TNK-BP is involved in natural and associated gas production in Yamal (West Siberia) via its subsidiary Rospan, as well as in the main oil producing regions, such as Nizhnevartovsk (West Siberia) and the Orenburg Region (Volga-Urals Area). In 2009 the total production (excluding self-consumption of the company) amounted to 9.6 bcm of associated gas and 2.4 bcm of natural gas. The major part of the gas produced by TNK-BP is sold to third parties while a portion of it is used to produce electricity for the company needs.