OREANDA-NEWS. June 8, 2007. 2006 financial statements of TNK-BP parent company, TNK-BP International ltd, under US GAAP report investments in the Kovykta project at $405mln as of December 31, 2006. In case the mining license for the deposit is withdrawn, these expenses may not be refunded.

According to TNK-BP official Vladimir Bobylyov, this sum includes expenses associated with geological survey, drilling, road construction, gas pipes and other infrastructure.

As it was earlier reported, a committee of the Russian Subsoil Use considered an issue on Kovykta license withdrawal on June 1, 2007. A decision on this matter will be adopted later.