OREANDA-NEWS. February 16, 2012. TNK-BP has held a Contractor Day in Moscow for its oil and gas projects in Yamal and northern Krasnoyarsk Region for the companys current and potential future contractors. It was attended by over 250 Russian and foreign companies representing various industries, reported the press-centre of TNK-BP.

TNK-BP presented its oil and gas development projects in the region and provided the contractors with a detailed plan of action for each asset, including capital construction, transportation arrangements, drilling, well completion and energy supply. Full-scale development of the Rospan gas fields alone, which are expected to produce over 16 billon cubic metres of gas per year, will involve investment of around USD 6 billion.

According to Viktor Blagoveschensky, TNK-BP Vice President, Yamal-Gas Area, in its approach to these sweeping and capital-intensive projects the Company aims to achieve maximum efficiency and transparency of interaction with its contractors. We have presented specific projects, received feedback and held general discussions on the subject with the heads of contractor companies, he said. The next stage is to hold meetings with the technical experts for further detailed discussion. Were open for ongoing dialogue and Im confident that this type of partnership will enable us to work together as efficiently as possible at every stage of these complex and fascinating projects.

TNK-BP invites all interested contractors to share their comments and ideas on the outcomes of the Contractor Day. Feedback and suggestions can be sent to: OVChaykasova@tnk-bp.com.

Contractors and suppliers interested in working on the Yamal developments can also fill out a potential contractor questionnaire.

Information for editors:
TNK-BP is Russias third largest oil company and is owned by BP and the AAR consortium (Alfa Group/Access Industries/Renova) on a parity basis. Additionally, TNK-BP owns approximately 50% of the Russian oil and gas company Slavneft. TNK-BPs share in Russias oil production (including its share in Slavneft) is about 16%. The Companys total proved SEC LOF reserves are 8.794 billion BOE as of December 31, 2010.

References to TNK-BP or the Group mean TNK International and the Companys consolidated subsidiaries unless the context requires a different reading.