TNK-BP Acquires New Fields in the Orenburg Region with Total Reserves Exceeding 8 Million Tons

Asset portfolio expansion is a part of the massive program aimed at efficient development of the prospective oil and gas resources in the Orenburg region.

Fields developed by Orenburgneft and Buguruslanneft (both belong to TNK-BP Group) have been exploited for more than 75 years; they belong to the oldest producing areas in Russia. In 2012, the Company invested 34.5 bn rubles in Orenburg production support, which is 4% more than last year. The investment planned for 2013 is 35.6 bn rubles.

"Orenburgneft has been making consistent efforts to develop production. Asset portfolio expansion and development of prospective resources will not only enable the Company to maintain the planned production levels, but will also create a foundation for long-term efficient development in the Orenburg region, one of the key regions for TNK-BP," says Oleg Anisimov, First Deputy Director of TNK-BP Branch in Orenburg.