TNK-BP to Allocate Over USD1 bn for APG Utilization Projects
OREANDA-NEWS. June 26, 2012. TNK-BP reports that OJSC Orenburgneft (a member of the TNK-BP Group) will invest in excess of USD 1 bln in associated petroleum gas (APG) utilization projects in the Orenburg region, reported the press-centre of TNK-BP.
As part of its comprehensive program for increasing the value-added use of APG from the current level of 83% to 95% in 2014, TNK-BP is implementing four major projects in the Orenburg region: Pokrovka, Western, Bobrovka and Eastern. Two of them will be completed in 2H 2012. For that purpose, Orenburgneft will provide APG gathering, transportation to the processing facilities and processing as such.
‘The projects will help to bring our APG utilization figure to 95% with the total regional gas production of ca. 3 bcm. We have already invested ca. USD 500 mln in this program’, said Pavel Strunilin, Gas and Power Projects Program Director, South-East Area Division.