Eng - Отрасли ТЭК

Results of TNK-BP’s Board of Directors meeting

18.02.11 20:41

The Board of Directors of TNK-BP Limited, the main holding company of TNK-BP group, met on 18 February, 2011 to review the company’s performance in 2010 and plans for 2011. TNK-BP will report its annual US GAAP audited financial statements for 2010 on 1 March, 2011.

The Board heard management’s report on the status and financing of key projects planned for 2011. Additionally, the Board approved the 2010 international reserves audit performed by Degoyler & MacNaughton, the results of which TNK-BP plans to announce on 24 February, 2011.
Based on the documents presented to TNK-BP by BP concerning its strategic alliance with Rosneft, management informed the Board of its potential interest in participating in the alliance. The Board’s discussion of this opportunity was preliminary in nature, and it was agreed to continue the discussion.
TNK-BP is Russia’s third largest oil company, 50% held by BP and 50% held by the AAR Consortium (Alfa Group, Access Industries, and Renova). TNK-BP also owns close to 50% of another Russian oil and gas company, Slavneft. TNK-BP accounts for approximately 16% of Russia’s production (including its share of Slavneft). SEC proved reserves (life of field basis) were 8.586 billion boe as of December 31, 2009.