OREANDA-NEWS. February 08, 2007. TNK-BP is going to drill and bring into operation 500 production wells and 50 exploration wells every year, said Timothy Summers, Chief Operating Officer of TNK-BP, to journalists, reported the press-centre of TNK-BP.

“Drilling will be maintained at this level in the years to come,” added he.

Mr. Summers explained that the company is going to minimize the number of new well pads by drilling more sidetracks. For example, 250 sidetracks will be drilled in 2008. “Sidetracking is very important in mature fields with large well stocks,” noted Mr. Summers and stressed that TNK-BP has numerous mature fields.

The Chief Operating Officer reminded that in 2007 TNK-BP started the practice of signing long-term service contracts. So far, 3–5-year contracts for a total of $3 billion have already been concluded by the company.