OREANDA-NEWS. December 09, 2008. The agreement on swap supplies of oil signed by TNK-BP, Rosneft and Transneft in mid 2008 will allows these companies to save up to US50 million a year, Jonathan Kollek Vice President, Sales, Trading and Logistics (STL), TNK-BP, said to journalists, reported the press-centre of TNK-BP.

“The agreement implies supplies of approximately 13 million tons of oil a year till 2015, which will save up to US 50 million a year in logistics.”

Apart from that, added Mr. Kollek, this agreement will help Rosneft fulfill its oil supply obligations to China without construction of pipelines.

In July 2008, Transneft, TNK-BP and Rosneft signed an agreement on swap oil-supply operations.

This agreement implies supply of 13 million tons of oil a year from the Vanorskoe field developed by Rosneft to the Ryazan Refinery incorporated into TNK-BP.

In its turn, TNK-BP will supply oil from the Samotlorskoe field to Taishet and further along the Eastern Siberia–Pacific Ocean pipeline and to the Angarsk Refinery owned by Rosneft.

This scheme of supplies will come into force from 2010 when construction of the Eastern Siberia–Pacific Ocean pipeline is completed. Meantime, the Eastern Siberia–Pacific Ocean pipeline is reversed and TNK-BP will supply oil from the Verkhnechonskoe field to the Angarsk Refinery.