OREANDA-NEWS. April 05, 2012. TNK Brasil (a 100% subsidiary of TNK-BP Group) and HRT O&G announce that the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) approved on March 28, 2012 the concession rights and obligations transfer from HRT O&G to TNK Brasil regarding a 45% participating interest in 21 blocks located in the Solimoes Basin, onshore Brazil. This approval concludes the transaction between HRT and TNK Brasil who will now operate the concessions under a Joint Operating Agreement (JOA) already approved by shareholders, reported the press-centre of TNK-BP.

”HRT is looking forward to building a strong and successful partnership with TNK Brasil. The Solimoes Project will benefit from their experience and expertise developed in Russia and from lessons learnt from developments in Siberia with similar logistical challenges” mentioned Marcio Rocha Mello, CEO of HRT.

“We are pleased that the Brazilian authorities have approved our agreement with HRT and this significant deal is now closed. Our international operations play an important role in our portfolio. TNK-BP’s growth strategy foresees the company’s transformation into a leading private oil and gas company, both inside and outside of Russia,” said Mikhail Fridman, Chief Executive Officer of TNK-BP.

Building on the foundation that HRT has established, the two companies will move forward with an exploration program in the Amazon region, keeping best practice environmental standards as a key priority.