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29.06.2012

TNK-BP Looking for Partners to Develop Captive Power Generation

TNK-BP is organizing a special conference for potential partners and investors on July 11, 2012. At the conference, TNK-BP will present its captive power generation development plan to future contractors and discuss with them preferable conditions and terms of business partnership and the guarantees offered by TNK-BP for ensuring efficient interaction and cooperation.

Major power generation companies, investors in the power industry and manufacturers of power generation equipment are invited to the conference. Companies engaged in power generation, irrespective of location and region of activities, can take part in the conference. For initial registration, an application should be filled out on the official website of TNK-BP at http://www.tnk-bp.ru/conference.

Captive power generation is a high priority for the Company’s development. In late March 2012, Mikhail Slobodin, Executive Vice President, Strategy and New Business Development, TNK-BP, presented the power supply optimization strategy to journalists and experts. By 2020, TNK-BP will invest between $1.2 billion and $3 billion in construction of captive power plants with an overall capacity of 550–1,800 MW according to the situation on the market. Invitation and participation of partners is seen as a key way to reduce the cost of these projects.

TNK-BP is prepared to offer up to 75% of the future joint venture to the key partner and guarantee return on investment at the level stipulated in the DPM agreement based on long-term gas supply and power take-off contracts. TNK-BP will be the main consumer of electricity generated at the captive power plants of the joint venture. In the future, TNK-BP may transfer its existing captive power plants to the joint venture.

Copyright 2012, TNK-BP. All rights reserved.

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