OREANDA-NEWS. April 29, 2010. TNK-BP is planning to start construction in 2011 of an oil production plant in the Yaroslavl region, TNK-BP Executive Director German Khan announced on Thursday while in Yaroslavl for the signing of a partnership agreement between the region’s government and TNK-BP for 2010—2011, reported the press-centre of TNK-BP.

“Our company plans to create a new modern center for oil production in the Yaroslavl region. This facility is currently in the planning phase. We plan to begin construction in 2011. The exact amount of investment hasn’t been determined yet, but it will be tens of millions of dollars. The site for the facility has already been selected and is currently being registered,” Mr. Khan said.

“The amount of investment in the new oil plant will exceed 1 billion rubles over the next three years,” Yaroslavl region officials told Interfax, citing the company’s representatives.

TNK-BP’s retail company TNK-Yaroslavl, which stores and sells wholesale and retail products, currently works in the Yaroslav region. Furthermore, TNK-BP and Gazprom Neft control Slavneft on a parity basis, which in turn includes Slavneft-Yaroslavnefteorgsintez and Slavneft-YaNPZ im. Mendeleyeva.