In 2010 TNK-BP Will Bring into Operation the Tyamkinskoye Deposit

February 5, 2010

This year TNK-BP will bring into operation the Tyamkinskoye deposit which makes part of the Uvat group of deposits in the south of the Tyumen Region, German Khan, TNK-BP’s Executive Director told reporters.

“The Tyamkinskoye deposit is the most explored in the Central Hub of the Uvat project. There is a number of other deposits around it on which geological exploration will be carried out and we think that the prospects are good. We will create infrastructure which will allow us monetizing all the extracted volumes”, he noted.

According to German Khan, the Uvat project has “serious prospects which have not yet been fully identified”. “The year 2010 will be marked by high growth rates. According to our prospects, we expect a 70% year-on-year rate in oil production growth” (on the Urnenskoye and the Ust-Tegusskoye deposits — Interfax), G. Khan said.

As was reported earlier, TNK-BP will invest $500 mln in the development of the Uvat projects in the south of the Tyumen Region, including $100 mln in the development of the Central Uvat which comprises the Tyamkinskoye deposit and adjacent deposits. The oil production from these deposits will grow to 500,000 t in 2011 and to 1 mln t in 2012, from 80,000 t in 2010.

The Uvat project consists of 15 exploration and production licenses and covers a total of 26,600 km2. By the end of 2008, the total volume of investment in the Uvat project amounted to $925 mln.

-TNK-BP