Company news in June 2004 | |||
TNK-BP Managers Report on Performance
TNK-BP''s Executive Director Victor Vekselberg announced at the yesterday''s news conference of TNK-BP''s management team that Gazexport representatives were included into the TNK-BP/Gazprom joint task group for the Kovykta gas and condensate field development. Together with the project''s operator, Rusia Petroleum (62.42% in which are held by TNK-BP), they are drafting proposals as to Kovykta gas sales to China and South Korea. The plan is to reach agreements on export prices for Kovykta gas by the end of the year. According to the company''s President Robert Dudley, the agreement on the principles of cooperation with Gazprom on the Kovykta field will be signed in July. Mr. Dudley announced the start of the TNK-BP corporate restructuring plan development. In his words, over 600 different legal entities are making part of the company (including SIDANCO petroleum company, ONACO petroleum company and their subsidiaries); their number will drop later on. During the company''s reconstruction, a holding to become the core TNK-BP''s profit center will be established.
Source: Kommersant