Press releases in 2008

TNK-BP Holding (TBH) held an Extraordinary General Meeting of shareholders (EGM) today which approved amendments to the Charter of the company, and elected a new Board of Directors.

TNK-BP today announced the acquisition of the minority shareholding of 25% plus one share in STBP Holdings Limited, the company which operates 56 BP branded retail sites in Moscow and Moscow region.

TNK-BP today announced that its Business Plan for 2009 had been supported at a scheduled meeting of the Board of Directors of TNK-BP Limited, the ultimate holding company of the TNK-BP group of companies.

TNK-BP announced that it had received the resignation of its founding President and CEO, Robert Dudley, in accordance with the memorandum of understanding (MOU) between Alfa Access-Renova and BP in early September. Mr. Dudley’s resignation is effective from today, December 1^st.

TNK-BP today announced the appointment of David Peattie to its Board of Directors. The appointment is made with immediate effect. Mr. Peattie, a BP Group Vice President, has recently been appointed as Head of BP’s businesses in Russia and Kazakhstan. He is responsible for BP’s interests in TNK-BP as well as its businesses in the Russian Arctic, Sakhalin and Kazakhstan.

At its first meeting since the signing of a Memorandum of Understanding between shareholders BP and AAR, the TNK-BP Board resolved some outstanding matters for calendar year 2008 and agreed key steps to underpin future growth in production, reserves, profitability and value.

TNK-BP today announced the resignation of its Executive Vice President for Downstream, Anthony Considine. Mr. Considine tendered his resignation in a letter dated August 25^th. His resignation will be effective from September 15^th.

TNK-BP today announced the resignation of its Chief Financial Officer, James Owen. Mr. Owen tendered his resignation in a letter dated August 4^th addressed to the CEO of TNK-BP, Robert Dudley, and copied to members of the Board of Directors of TNK-BP Limited. Mr. Owen’s resignation will be effective from the end of August.

TNK-BP announced today that Chief Executive Officer Robert Dudley has temporarily left Russia  to run the company from outside the country.

TNK-BP announced that today Rafael D. Ramirez Carreno, Minister for Energy and Oil of the Republic of Venezuela and President of the state oil company PDVSA, and German Khan, Executive Director, TNK-BP, signed a Joint Study Agreement for Ayacucho-2 block of the Ayacucho area in the Orinoco Oil Belt.

The Board of Directors of TNK-BP has approved the company’s participation in a joint investment project for construction of a new steam-gas combined-cycle unit with a capacity of 800 MW at the Nizhnevartovsk Power Plant.

TNK-BP will purchase 25% plus one share of the company NVGRES HOLDING LIMITED, established by OGK-1 for project implementation, for $356 million.

TNK-BP Holding (“TBH”) held its Annual General Meeting of shareholders today and approved the proposed dividend payment.

In addition, the company presented highlights of consolidated 2007 financial results prepared under US GAAP accounting standards. The meeting also elected a new Board of Directors for TBH and approved the company’s annual report for 2007.

TNK-BP confirmed highlights of preliminary financial data for TNK-BP International for 2007. Consolidated financial results of TNK-BP International are still awaiting formal approval of the Board of Directors.

TNK-BP considers it necessary to state that discussions between the shareholders with regard to the strategy and tactics of the company’s development do not impact its current operations which remain stable and aligned with our annual forecast. 

TNK-BP Holding (TBH) confirms that TBH and TNK-BP Management are defendants in a series of lawsuits brought in the Tyumen Oblast and Moscow arbitration courts by CJSC Tetlis, — a minority shareholder in TBH.

TNK-BP today released the results of the independent audit of its reserves as at the end of 2007. This represents the fifth annual external audit of the company’s reserves since its creation in August 2003.

TNK-BP is a commercial organization engaged in normal and legitimate commercial activities.

OGK-1 OAO (“OGK-1”) and TNK-BP have signed a Shareholders Agreement (“Agreement”) to jointly implement an investment project for the construction of a new power unit at Nizhnevartovskaya Thermal Power Plant (“Nizhnevartovskaya TPP”).

The oil company TNK-BP announced the opening of the first multifunctional automotive fueling station under the BP brand name in Saint Petersburg today. TNK-BP Chief Operating Officer Tim Summers and Downstream Executive Vice-President Anthony Considine took part in the BP gas station opening ceremony.