TNK-BP Allocated $320 mln for New Technology Investment in 2011

The pilot production portfolio included ca. 120 pilot projects this year with specific works carried out on ca. 1,000 wells. Approximately 65 successful projects are already being rolled out.

TNK-BP is taking active effort to create joint industry projects that envisage establishment of strategic partnerships with other industry companies to develop new technologies, engage the expertise to review the New Technology Program (NTP) that is being implemented in the Company since 2010, and collect objective opinions about its operation.

Emerson Milenski, Vice President, Major and Capital Projects, emphasized: ‘The NTP allowed achieving significant success both within TNK-BP units and in our external interactions in 2011. 2011 Program priorities included infrastructure upgrades, more intense development of enhanced oil recovery methods and search for new and efficient water shut-off methods’.