OREANDA-NEWS. August 22, 2011. TNK-BP plans to invest more than USD900 million to develop infrastructure for crude oil facilities in the Orenburg region in 2012, as disclosed this week in a joint meeting with representatives of major regional construction companies in Orenburg, reported the press-centre of TNK-BP.

According to Alexander Grabovsky, Director of TNK-BP Orenburg Branch, TNK-BP is investing increasingly more into the region’s infrastructure projects. Next year will see a more than fivefold increase of the funds to USD 914.6 million, as compared to USD 177 million in 2010 for analogous purposes.

In particular, the funds will be spent to develop infrastructure for the Kulikov and Slobodsk license areas and to construct a hydrogen disulfide and ethyl- and methyl mercaptans stripping station at the Pokrovka crude treatment unit.

Information for editors:
TNK-BP is Russia’s third largest oil company and is owned by BP and the AAR consortium (Alfa Group/Access Industries/Renova) on a parity basis. Additionally, TNK-BP owns approximately 50% of the Russian oil and gas company Slavneft. TNK-BP’s share in Russian oil production (including TNK-BP’s share in Slavneft) is about 16%. Total Company’s proved SEC LOF reserves are 8.794 billion BOE as of December 31, 2010.

“TNK-BP” or “the Group” refers to “TNK International” as well as to company’s consolidated subsidiaries if the context does not require a different reading.