TNK-BP in the news

TNK-BP President Robert Dudley says he is confident that Russia will continue along its path towards success following the handover of presidential power to President Elect Dmitriy Medvedev. The statement was made in an interview to Petroleum Intelligence Weekly, an international oil industry analytical publication.

TNK-BP is going to invest $60 million into development of the Russkoe field in the Yamalo-Nenets Autonomous Area, said Sergey Brezitsky, Executive Vice President, Upstream, TNK-BP, to the press.

TNK-BP is going to invest $500 million in 2008–2012 into organic growth of its sales assets, says the newsletter of the company.

The joint-stock company Verkhnechonskneftegas” will be ready to start oil supplies to the Eastern Siberia–Pacific Ocean oil pipeline system in September 2008, said Mugammir Galiullin, General Director of Vercknechonskneftegas, to journalists during their visit to the Verkhnechonsk oil and gas condensate field.

Last week, Verkhnechonskneftegaz completed construction and installation works in the linear part of the oil pipeline running from the Verkhnechonsk oil and gas condensate field to booster pump station No.10 of the Siberia–Pacific Ocean system of oil pipelines, said Mugammar Galiullin, Director of Verkhnechonskneftegaz, to the press on March 24.

Safe Technologies Inc. signed a contract with the oil company TNK-BP for design and construction of a waste treatment complex KTO-300 in pursuance of the Kyoto Protocol.

The oil company TNK-BP is going to invest more than 85 billion rubles into its projects on the territory of the Tyumen Region (without the autonomous districts). These investments are stipulated in the agreement of strategic cooperation between the Tyumen Region Government and TNK-BP.

Winners of the Seventh All-Russia Contest “Russian Company of High Social Efficiency” were awarded in the Kremlin on February 12. A third—degree diploma in the nomination “Health and Safety” was awarded to the Open Joint-Stock Company “TNK-Nizhnevartovsk.”

On February 21, the all-Ukraine rating program “Guardia” awarded the most successful managers and companies of Ukraine in 2007 in the Hall of Honor at the National Museum of the 1941–1945 Great Patriotic War History in Kiev. TNK-BP was named the winner of the contest in the nomination “Best Innovative Company.”

In his speech at the International Oil Week meeting in London, Anthony Considine, Executive Vice President, Downstream, TNK-BP, said that TNK-BP is planning to increase the load its own oil refining facilities from 92% up to 96%.

Anthony Considine, Executive Vice President, Downstream, TNK-BP told the press on Tuesday that the company is going to start oil supplies from the Verkh-Tarskoe field through the terminal in Barabinsk, Novosibirsk Region, by March 2008.

Up to 10 million to 15 million tons of Russian crude per year (200,000—300,000 barrels per day) could be sucked into a few well placed Russian refineries in the next 3—5 years, a senior refining executive said 19 February.

Dry gas produced from associated petroleum gas, whose burning, according a draft resolution of the government, will cost oil companies 46 times more than now beginning from 2009 and 113 times more from 2011, should be given high priority access to gas distribution networks on a legislative basis, said the head of one of the gas departments of TNK-BP.

TNK-BP has opened the first service station under the BP brand in Saint Petersburg, informed the press service of the Russian-British company.

At the press conference held on Monday and dedicated to launching the first BP fuel station of TNK-BP in Saint Petersburg, Timothy Summers, Chief Operating Officer of TNK-BP, said that TNK-BP is going to invest more than $150 million by 2013 into development of the network of fuel stations in Saint Petersburg.

Timothy Summers, Chief Operating Officer of TNK-BP, said on Thursday that the capital investments of the Russian-British oil company TNK-BP will amount to $4 billion compared to $3.5 billion last year.

TNK-BP is going to drill and bring into operation 500 production wells and 50 exploration wells every year, said Timothy Summers, Chief Operating Officer of TNK-BP, to journalists on Thursday.

Timothy Summers, Chief Operating Officer of TNK-BP, said on a briefing that commercial development of the Verkhnechonsk field will start in late 2008.

Timothy Summers, Chief Operating Officer of TNK-BP, said to the press that the way of oil transportation from the Verkhnechonsk field before the East Siberia–Pacific Ocean pipeline is commissioned and put into operation will be finally made by the end of this year.

TNK-BP is successfully implementing the Gas Program started three years ago and constructing a gas collection infrastructure, gas processing facilities, and power plants using gas for generation of electric power.

TNK-BP will spend 1 billion and 528.722 million rubles in 2008 for implementation of its program for utilization of associated petroleum gas in the Orenburg Region, which is 1.8 times more than in 2007, said the Public Relations Department of TNK-BP Orenburg to Interfax.

The investment program of TNK-BP for 2008 is estimated at $4 billion. TNK-BP is planning to increase its oil production next year by 1–2% through and development of new fields. The company is going to make massive investments into modernization and expansion of its oil-refining facilities.