OREANDA-NEWS. April 26, 2011. TNK-BP and the Government of Krasnoyarsk Krai signed an Agreement On Social and Economic Cooperation to last till 2014, reported the press-centre of TNK-BP.

The agreement is intended to strengthen partnership relations in order to ensure the regional industry development, promote investments, and support financial and social activities in the region.

Attraction and efficient management of investments in the mineral resources development and local infrastructure, ensuring rational use of the resource base, environmentally sound subsoil use, establishment of conditions for social development and improvement of the regional community’s living standards are among the the agreement’s top priorities.

Commitments by TNK-BP include use of world-class best practices and technologies in its business activities, utilization of the Krasnoyarsk regional research, design and production capacities for achieving the company’s goals and objectives, participation in projects aimed at developing oil and gas production and transportation infrastructure, performing sponsorship and charity activities, and offering social programs for its employees.

TNK-BP plans to ensure at least 1.5 billion rubles of investments for the Krasnoyarsk krai in 2011. Besides, the company will allocate more than 20 million rubles this year to finance municipal level charity projects.

“The Krasnoayrsk territory plays a key role in TNK-BP’s long-term development strategy – the krai is the venue of the next generation of our new projects: Suzunskoe and Tagulskoe fields”, said German Khan, TNK-BP Executive Director. “Efficient development of the unique hydrocarbon reserves in close cooperation with the Krasnoyarsk regional government will turn the region into a new Russian oil production center alongside with Yamal, Eastern and Western Siberia”.

Information for editors:
TNK-BP is the third largest oil company of Russia, its shareholders on parity basis are BP and AAR syndicate (Alpha Group/Access Industries/Renova). TNK-BP also owns about 50% in Russian Oil and Gas Company SLAVNEFT. TNK-BP accounts for 16% oil production in Russia (including TNK-BP share in Slavneft). Total proved SEC reserves, without consideration of license validity term, amounted to 8.794 bln boe as of December 31, 2010.