TNK-BP and BNP Paribas Agree on Cooperation under Kyoto Protocol
27 Nov 2009
TNK-BP and BNP Paribas today signed a Memorandum of Understanding on cooperation under the Kyoto protocol to the UN Framework Convention on Climate Change dated December 11, 1997.
TNK-ÂÐ and BNP Paribas intend to jointly implement projects aimed at increasing the economic efficiency of associated pertroleum gas utilization at TNK-BP oil fields in Russia.
As a first step towards practical realisation of the MoU, TNK-BP and BNP Paribas signed a contract which provides for the sale of Emission Reduction Units generated within the “Samotlor gas gathering” project framework. TNK-BP has successfully commissioned five vacuum compressor stations at Samotlor oil treatment facilities which allows utilisation of 90 million cubic metres of associated gas during the final stages of the oil separation process.
In early 2010, TNK-BP and BNP Paribas are planning to consider further options for potential cooperation in the Orenburg region, including associated gas utilisation at the Vakhitovskoye oil field and construction of the Rodnikovskaya power plant.
“The memorandum which we signed today with BNP Paribas creates new future opportunities and allows us to be more efficient in planning our associated gas utilisation programme for the next few years,” said Victor Vekselberg, Executive Director of TNK-BP. “Sucessful cooperation in this area is a powerful driver for attracting investment in the Russian economy and will demonstrate Russia’s growing integration in the global economic community. We are pleased that the emission reduction purchase contract with regard to associated gas utilisation at the Samotlor oil field will provide a material contribution to implementing an intergovernmental agreement between Russia and France on joint execution of projects under the Kyoto protocol.”
Notes for editors
- In 2009, TNK-BP for the first time reported official data on greenhouse gas emissions in 2005 – 2008. In 2008, greenhouse gas emissions by the TNK-BP group of companies amounted to 22 million tons of the carbon dioxide (CO2) equivalent, which is 18% lower as compared to 2007. The released data illustrates a consisitent trend to reduce greenhouse gas emissions by the company subisidiaries and can be viewed at TNK-BP’s website at www.tnk-bp.com/hse/programs/gases-emissions.
- TNK-BP is Russia’s third largest oil company, 50% owned by BP and 50% owned by AAR (Alfa Group Consortium, Access Industries, Renova Group of Companies). TNK-BP also owns close to 50% of another Russian oil and gas company, Slavneft. TNK-BP accounts for approximately 16% of Russia’s production (including its share of Slavneft). SEC proved reserves (life of field basis) were 8.112 billion boe as of December 31, 2008. The company’s upstream operations are located in West and East Siberia and the Volga-Urals region. TNK-BP owns and operates five refineries in Russia and Ukraine, and retails through a network of 1,400 service stations working under the BP and TNK brands. For further information please contact:
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