Sechin, Dudley Discuss Plans to Integrate Rosneft and TNK-BP

December 24, 2012

Rosneft Chair Igor Sechin and BP Executive Director Bob Dudley met December 19 to discuss plans to integrate Rosneft and TNK-BP. The two adopted a decision to include Dudley in the presidium of the Coordination committee on integration, which is headed by Sechin.

Rosneft and BP confirmed their support for carrying out an effective integration process during which a united company would be formed which would implement the best international standards in the sector.

Commenting on the meeting, Sechin said, "I am happy to see success in cooperating with BP and I am certain that Bob Dudley's experience and the team at BP will improve the effectiveness of the integration process and make the united team one of the most competitive of world players".

In turn, Dudley said, "BP is interested in Rosneft's successful activity both during the integration process and beyond. We see significant possibilities for cooperation between our to companies. I would also like to congratulate Roneft with having signed the sales-purchase agreement for AAR's stake; Rosneft's having acquired 100% of TNK-BP will make it possible to achieve the company's potential. I think this is a good result for AAR, Rosneft and Russia overall".