TNK-BP
TNK-BP is a major Russian vertically integrated oil and gas company, established in September 2003 as a result of the merger of Russian companies TNK (Tyumen Oil Co.) and SIDANCO with the majority of BP’s Russian oil assets.
The company is owned and managed by BP (50%) and Alfa Group Consortium (25%), and Access Industries and Renova Group (25%). The shareholders of TNK-BP also control 50% of Slavneft, a vertically integrated Russian oil company which is currently managed as an independent company.
TNK-BP is headquartered in Moscow and is governed by a multinational management team, which consists of Russian and international executives who have worked in more than 50 countries worldwide. The team combines the best of Russian and international talent and experience and includes executives from BP, TNK, SIDANCO and other international companies.
Today, TNK-BP is one of the largest Russian oil companies (by production). The company employs 50,000 people and operates in nearly all of Russia’s major hydrocarbon regions, including:
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West Siberia (in the Tyumen Region, including Khanty-Mansiysk and Yamal-Nenetsk Districts);
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Volga-Urals (in the Orenburg Region);
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East Siberia (in the Irkutsk Region).
In 2009, average daily oil production totaled 1.69 million barrels of oil equivalent per day (excluding a 50% interest of Slavneft).
TNK-BP operates five refineries in Russia and Ukraine, and markets products through 1,400 service stations operating under TNK and BP brands. Through its retail network, TNK-BP is among the market leaders in petroleum product sales in European Russia, including Moscow, and is the market leader in Ukraine. In 2006 TNK-BP also began production of premium gasoline and diesel fuel grades under the BP Ultimate brand.
As of 31 December 2009, TNK-BP’s proved reserves were 8.586 billion barrels (liquids only) of oil equivalent on the basis of US SEC standards, and 11.667 billion barrels (liquids only) under PRMS (formely SPE) standards. The audit results do not include reserves or resources associated with the ownership of 50% of Slavneft by the shareholders of TNK-BP. Nor do they include any figures for gas.
Capital invested in 2009 amounted US $3.1 billion.
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