OREANDA-NEWS. December 20, 2011. TNK-BP announces that the project team developing the Lan Do field offshore Vietnam has been joined by some of the Company’s young Russian specialists. The Russian interns will learn study the theory and practice of offshore drilling operations in Vung Tau and Ho Chi Minh City and on a drill rig, reported the press-centre of TNK-BP.

The development programme will cover cement jobs, bit runs, bit hydraulics as well as general operations (casing running, drill stem testing). The programme is designed so that the work on the rig alternates with work onshore in the offices of TNK Vietnam (a subsidiary of TNK-BP) in Ho Chi Minh City or at the Company’s operations base in Vung Tau.

According to TNK-BP Vice President, Wells, Eric Liron, the Lan Do development programme is “a great chance to expose young specialists to international experience”.

“Developing competencies of our drilling young specialists is a strategic priority for the Company,” comments Gokhan Aker, Director, TNK-BP Corporate Drilling Dept. “For the first time, our young Russian specialists will be exposed to real offshore operations. Programmes like this are extremely crucial for TNK-BP now when it is going global as they help us prepare a pool of potential candidates for our current and future international projects and develop unique new competencies.”

Information for Editors:
The Drilling Young Specialist Program, one of the Wells Division’s people development programs, includes 54 young specialists. It is a three-year programme that provides for extensive learning coupled with practical experience in TNK-BP regional drilling functions in Russia. Entry requirements for the programme are quite challenging, calling for self-motivated, technically competent and physically-fit specialists with three years of experience and a good knowledge of English.

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 Russia’s oil production (including its share in Slavneft) is about 16%. The Company’s total proved SEC LOF reserves are 8.794 billion BOE as of December 31, 2010.

In October 2010, TNK-BP announced it had agreed to acquire BP’s upstream, pipeline and power assets in Vietnam and Vietnam at an overall cost of USD 1.8 bn. The companies closed the Venezuela asset purchase in June 2011, and in October 2011 officially received an investment licence to operate block 06.1 in Vietnam.

In addition, in October 2011, TNK-BP signed an agreement with Brazilian company HRT O&G to acquire a 45% stake in an oil and gas project in the Solimoes region of Brazil.

References to “TNK-BP” or “the Group” mean “TNK International and the Company’s consolidated subsidiaries” unless the context requires a different reading.