OREANDA-NEWS. On February 8, TNK-BP will hold an even to highlight its oil and gas projects in the Yamalo-Nenets and Northern Krasnoyarks regions for the Company’s existing and potential contractors and suppliers, reported the press-centre of TNK-BP.

– On February 8, TNK-BP will hold an even to highlight its oil and gas projects in the Yamalo-Nenets and Northern Krasnoyarks regions for the Company’s existing and potential contractors and suppliers.

The event is part of TNK-BP’s efforts to develop a new framework for relationships with its partners, announced in the autumn of 2010, and will be the first event of this level in Russia.

TNK-BP is implementing two large-scale projects (Gas and Yamal) to develop gas and oil fields in the Yamalo-Nenets and Northern Krasnoyarsk regions.

The Gas project involves the full-scale development of the Novo-Urengoi and East Urengoi gas condensate fields, as well as increasing gas production to 8.6 bcm in 2015, with potential for a further increase to 16.2 bcm in 2019. Total investment in the Gas project is anticipated to be approximately USD 5 bln.

The Yamal project involves the development of five oil fields in the Yamal-Nenets Autonomous Territory and northern Krasnoyarsk Region, which could account for 20% of the company’s oil production by 2021. The technical solutions and capital investment required to proceed with the project are currently being evaluated.

“Efficient development of the Yamal fields in the very difficult physical and climatic conditions of the Far North requires the application of the very latest and safest technologies and advanced engineering solutions. TNK-BP is committed to rigorously following the strictest environmental and industrial safety standards and demands the same of its contractors and suppliers. The company is therefore seeking to attract the widest possible range of Russian contractors to work on the project, for the development of mutually advantageous collaboration within one of the biggest oil and gas projects in Russia. This practice of partnership produced good results last year and we intend to develop it further, especially for such an extensive, large-scale and long-term project as Rospan”, said Viktor Blagoveschensky, TNK-BP Vice President, Yamal-Gas Area.