Company news in September 2004 | |||
Oil Alliance on the Rise
The other day, top management of TNK-BP, a Russo-British company, announced summarized results for the first year of its existence. The results are impressive: the international company is one of the high performers in terms of output; it has become the major investor in long-term promising projects, and is aggressively developing production facilities in Russia. Crude and gas output alone grew by 14% at enterprises making part of the company. In the opinion of TNK-BP’s management, all results have been due to successful consolidation of intellectual, technological, financial and production resources of predecessor companies. A further development strategy of the Russo-British company and a 5-year business plan have already been drafted. The latter envisages $1 billion annual investments into corporate development. TNK-BP takes special pride in successful introduction of new environmental and industrial safety standards. Much attention is paid to enhancing efficiency of corporate management and transparency. All of these achievements enabled to propose own scenarios for major field development, which used to be considered not promising, during the first year alone. As Tyumen Governor S. Sobyanin stated, a large-scale agreement providing for a great number of production and social programs will enable to deal with development of the underdeveloped southern part of the region and to get down to crude production at the famous Uvat group of fields. This project promises to give a new lease of life to gradually depleting extracting and production resources of the nation’s main oil region. During the same year, Ukrainian authorities ordered to fill and to start transportation through the Odessa/Brody oil pipeline. It is along this route that oil extracted by TNK-BP’s enterprises is supplied to the Yuzhny international terminal and from there, to West European consumers. The core future project is TNK-BP’s participation in the Russian consortium for development of East Siberian fields, which will take several decades.
Source: Rossiyskaya Gazeta