OREANDA-NEWS. December 10, 2012. TNK-BP informs that OJSC Orenburgneft and LLC Buguruslanneft (part of the TNK-BP Group) gained the right to apply a reduced profit tax rate in 2013. The Company reinvests released resources in the amount of 2.3 bn rubles in the development of production assets in the Orenburg region, reported the press-centre of TNK-BP.

TNK-BP is implementing a large-scale program to stabilize production in brownfields – Orenburgneft and Buguruslanneft fields have been developed for more than 75 years, they belong to the oldest producing areas in Russia. For the nine months of 2012 the Company has invested 31.9 bn rubles in the development of oil production in the region, which is 6% more than for the entire 2011.

"TNK-BP is a key investor and a major taxpayer in the Orenburg region. Orenburgneft and Buguruslanneft investment programs for 2013 envisage 22.8 bn rubles and 1.6 bn rubles correspondingly. Support on the part of the regional government is an important condition for efficient implementation of the Company major projects in the region, ramping up investment in the development of oil production, and, finally, increasing the tax revenue of the regional budget,” says Oleg Dimov, Vice President, Director of the ТNК-BP branch in Orenburg.