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TNK-BP to Start Commercial Development of Two Fields in the South of the Tyumen Region

TNK-BP TNK-BP is going to start commercial development of two fields in the southern part of the Tyumen Region the Urnenskoe and Ust-Tegusskoe fields in the Q1Q2 2009, German Khan, Executive Director of TNK-BP, said at the press conference held 23 January, together with Vladimir Yakushev, Governor of the Tyumen Region.

"By February 1, we will lay 24 kilometers of the pipeline and check its serviceability," noted Mr. Khan. "By the end of this year, we will complete construction of a central oil gathering facility and drill 70 wells."

According to him, these two new fields in the eastern part of the Uvat group of fields will produce 2 million tons of oil by the end of the year. After the launch of other license areas of the company, oil production will reach 10 million tons a year.

Mr. Yakushev stressed that TNK-BP is meticulously fulfilling its obligations of oil production in the region. The company has no intention to curtail its investments into construction of infrastructure facilities in the Uvat fields. Approximately $2.5 billion will be invested into implementation of the Uvat project by 2010.

The Uvat group of fields is situated in 400 km from Tyumen in a swamped area. Development of these fields is complicated by the absence of year-round access to them. Equipment and materials are delivered to the fields by winter roads.

Posted 27/01/09

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