OREANDA-NEWS. December 12, 2011. TNK-BP conducted an off-schedule meeting of its Central Conflict Resolution Commission to respond to six supplier and contractor applications that were received over the last two weeks. The decisions were made in favor of the counterparties on four applications concerning the tender procedures in the company subsidiaries operating in the Central and North-Western Federal Circuits, reported the press-centre of TNK-BP.

As a result, they will revise the opinions of company technical experts on admission to participation in the commercial phase of tenders including in procurement of electromechanical equipment for refineries, software and retail site equipment.

Andrey Kozlov, TNK-BP Vice President for Regional Policy and Chairman of the Central Conflict Resolution Commission, connects the increased amount of applications to the Central Federal Circuit Commission with the commenced 2012 contracting campaign. 'To provide a timely response to every one of our counterparties, we conduct off-schedule meetings in addition to the regular one - he said. - This tendency is a proof of higher trust in the Company - our counterparties regard the Conflict Resolution Commissions as an effective mechanism for settling disputes and a forum for a constructive dialogue'.

Information for Editors:
Since their inception in December 2010, TNK-BP Commissions reviewed 67 complaints. In 30 instances, they decided the contractor applications were reasonable and took the appropriate corrective measures including tender suspension, extension or revision of results or repeated tenders.

Any counterparty may apply to a Conflict Resolution Commission by filling an appropriate form posted on the company web site at http://www.tnk-bp.ru/procurement/council/ whatever the TNK-BP Group subsidiary they cooperate with.

TNK-BP is Russia's third largest oil company that is owned on a parity basis by BP and AAR consortium (Alfa Group/Access Industries/Renova). TNK-BP also owns ca. 50% of Slavneft, a Russian oil and gas company. TNK-BP produces ca. 16% of the total volume of Russian oil production (including TNK-BP interest in Slavneft). The total proven reserves owned by the company as estimated according to SEC LOF methodology amounted to 8.794 Bboe as of December 31, 2010.

A mention of "TNK-BP" or "the Group" means "TNK-BP International with company consolidated subsidiaries" unless the context requires otherwise.