Press releases in 2006

TNK-BP announced today successful completion of a major upgrade project at the Ryazan oil refining company (RNPK) with the inauguration of the alkylation and isomerization units.

TNK-BP and OAO SIBUR Holding today announced the establishment of a joint venture to process associated petroleum gas (APG) produced by TNK-BP and other oil and gas producers in the Nizhnevartovsk region. SIBUR will own 51% of the new venture and TNK-BP will hold 49% and equally share management control. 

TNK-BP announced that its Russian holding company, TNK-BP Holding (TBH) held an Extraordinary General Meeting of shareholders (EGM) today at which an interim dividend of RUR 97 billion (RUR 5.95 per share) was approved. The dividend will be paid from TBH earnings for the first nine months of 2006, which include the impact of the sale of Udmurtneft to Sinopec completed in August 2006.

TNK-BP today announced that Executive Director German Khan and Chief Operating Officer Tim Summers, met with RF Minister of Natural Resources Yuri Trutnev. The meeting focused on idle well stock at TNK-BP fields.

TNK-BP today announced it had held around table meeting in Moscow on November 1, 2006, with representatives from TNK-BP, BP, RUSIA Petroleum, FRECOM, Stroitransgaz as well as international, Russian and regional non-governmental organizations: World Wildlife Fund (WWF)  Russia, Greenpeace  Russia, International Socioeconomic Union, Ecocenter “Zapovedniki”, Non-Commercial Partnership ”Transparent World”, The Conservation Center, Russia’s Birds Protection Union, Green Patrol, Baikal Environmental Wave, and Buryatia Regional Association on Baikal.

TNK-BP today announced the launch of BP Ultimate unleaded 95 and 98 at all of the company’s BP service stations in Moscow and the Moscow region starting September 18.

TNK-BP today announced agreement with Rosneft to construct a permanent oil pipeline from the Verkhnechonskoye (VC) oil field in East Siberia to Surgutneftegaz’ Talakanskoye field whence oil from both fields will be supplied into the East Siberia – Pacific Ocean pipeline system (ESPO).

TNK-BP today announced the appointment of Rt Hon Lord Robertson of Port Ellen KT, CGMG, Hon FRSE, to its Board of Directors as Deputy Chairman of the Board and the Chairman of the Board’s Audit Committee. The appointment is effective from 1 October 2006.

TNK-BP today announced that on 13 July, it had successfully placed 5 and 10-year Reg S/144A Eurobonds totalling US$1.5bn.

These Eurobonds constitute the first drawdown under TNK-BP’s $5bn Guaranteed Debt Issuance Program established in September 2005.

TNK-BP Holding (“TBH”) held its first Annual General Meeting of shareholders today and approved the company’s annual report for 2005. The annual report details full year unconsolidated financials under Russian accounting standards. The meeting also elected a new Board of Directors for TBH and approved the proposed dividend payment.

TNK-BP today announced it had reached agreement with Sinopec for the sale of its Udmurtneft assets and that the parties had exchanged written confirmation of commercial terms.

The Russian oil company TNK-BP carried out a traditional charitable act for orphan children from orphan asylums of Moscow and the Moscow Region and children from low-income families. For the seventh time now, the Company invited six thousand children to the New Year celebrations. This time, festivities were held at the Bolshoi Moscow State Circus on the Vernadsky Avenue.