OREANDA-NEWS. June 6, 2007. The payback period of the projects for developing the Ust-Tegusskoe and Urnenskoe fields of the Uvat Group will be approximately 9 years beginning from 2007, said Viktor Blagoveschensky, Vice President of TNK-BP and Head of the Tyumen Business Unit.

The estimates of the payback period, according to him, are based on oil prices at the level of $40 per barrel. Approximately 1.5 million tons of oil is produced annually in the Ust-Tegusskoe and Urnenskoe fields.

Apart from that, Mr. Blagoveschensky noted that the company is going to construct a 28-km—long oil pipeline between these two fields.

According to experts, the fields of the Uvat Group account for approximately 70% of all oil reserves in the south Tyumen Region, which are estimated at about 1 billion tons.