OREANDA-NEWS. February 22, 2012. The Ryazan Oil Refinery is going to invest USD 50 million into implementation of the measures planned for the spring of 2012 and aimed at increasing the turnaround interval of the equipment up to three years, reported the press-centre of TNK-BP.

The Ryazan Oil Refinery is consistently implementing the program of transition to a three-year turnaround interval. This program, coordinated with regulatory authorities, will make it possible to improve the production efficiency and raise the production safety level owing to modernization of the equipment and increase of its service life.

In 2011, the Ryazan Oil Refinery has reached a record oil refining rate of 16.6 million tons a year. This year, the company is planning to maintain the oil refining rate at this level. According to Anatoly Skoromets, General Director of the Ryazan Oil Refinery, the company is making massive investments into modernization of production, construction of new facilities, launch of new units, upgrade of the existing units, and replacement of the equipment.

“All works are planned in advance, and we will coordinate their schedule with the Ministry of Energy and the Federal Ecological, Technological and Atomic Supervision Service (Rostekhnadzor),” said he.

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TNK-BP is the third largest oil company of Russia owned on a parity basis by BP and the AAR Consortium (Alpha Group, Access Industries, and Renova). TNK-BP owns about 50% of the Russian oil and gas company Slavneft. TNK-BP’s share in Russia’s oil production, including its share in Slavneft, is approximately 16%. As of December 31, 2010, the total proven SEC life-of-field (LOF) reserves of the company, estimated according to the US Securities and Exchange Commission (SEC), amount to 8.794 billion barrels of oil equivalent.

The Ryazan Oil Refinery is the largest refinery of TNK-BP. The Ryazan Oil Refinery produces a wide range of oil products – motor gasoline, diesel fuel, jet fuel, boiler fuel, road bitumen, construction bitumen, lubricants, and other oil products. The rated capacity of the Ryazan Oil Refinery is 17 million tons of oil a year, the total headcount is 3,600, and the production area is approximately 1,300 hectares.