OREANDA-NEWS. March 06, 2013. ТNК-ВР reports that in 2013 it will allocate 4.4 bn rubles to implement exploration programs in the Orenburg region.

TNK-BP is implementing a large-scale program to stabilize production in brownfields, including Orenburgneft and Buguruslanneft fields that have been developed for more than 75 years and belong to the oldest producing areas in Russia.

Orenburgneft has a high E&A well success rate – over 75%, while the industry average is 50%. In 2012, owing to the exploration work, a total of 11 mln tons of recoverable oil reserves were booked by the Company.

"Orenburgneft takes consistent efforts to efficiently develop its assets. Application of state-of-the-art technologies for the development of deposits is the main driver for the long-term exploitation of the oil and gas resources in the Orenburg region – one of the key regions for TNK-BP," said Igor Rustamov, General Director, Orenburgneft.