OREANDA-NEWS. July 15, 2008. TNK-BP is planning production of approximately 1.2 million tons of oil in the fields of the Uvat project in South Tyumen Region in 2008, Oleg Chemezov, Vice President of TNK-BP Management and Director of TNK-BP Sibir, subsidiary of TNK-BP in Tyumen, said at a meeting with journalists of foreign and Russian mass media, reported the press-centre of TNK-BP.

Mr. Chemezov presented the Uvat project, which will reach its production peak by 2009. “Uvat fields are green fields with high well yields. Oil viscosity here is high, and distances of oil transportation are long. For this reason, we are now constructing a 530—mm oil pipeline that will connect the highly promising Urnenskoe and Ust-Tegusskoe fields with the trunk oil pipeline. Subsidiaries of TNK-BP are actively developing 21 fields in this region and producing more than 1 million tons of oil a year,” said Mr. Chemezov.

The company is striving to make the increment of its hydrocarbon reserves outstrip the production volume. “This is necessary for successful operation of the company in future. Moreover, the state policy in Russia is quite stringent, and we are trying to follow it. In 2007, for example,  the increment of hydrocarbon reserves of TNK-BP amounted to 170% of the produced oil volume,” emphasized the head of TNK-BP Sibir.

Utilization of associated petroleum gas is another important aspect, which is currently not too urgent in South Tyumen Region due to the relatively low production volume. Nevertheless, TNK-BP is solving this problem to raise the level of associated petroleum gas utilization up to 95% by 2010 in its fields, including the fields of the Uvat project.

Mr. Chemezon reminded that TNK-BP registered in the Tyumen Region is one of the largest taxpayers of the region. “Only in 2007–2009, TNK-BP will spend 52.9 billion rubles for implementation of the Uvat project. In the wake of out investments in the south of the Tyumen Region, the local infrastructure is growing, the number of jobs for residents of the region is increasing, and new oilfield service companies are emerging.

The financial investments of TNK-BP have a cumulative effect for the Tyumen Region, and we are pleased to state that we are enjoying the full understanding and support of the regional government,” summed up Mr. Chemezov.