TNK-BP announces that it achieved an overall increment of over 2 million tons in 2012 by deploying new oil production technologies – more than twice the figure for 2011.

 

TNK-BP is consistently implementing a comprehensive program to enhance the efficiency of field development work in all its upstream assets. A key part of the program is a system for developing and deploying new technologies, aimed at selecting the best solutions for pilot projects for further scale-up across the entire Company. In 2012 TNK-BP carried out over 2,000 operations in areas such as multi-stage hydraulic fracturing, bottomhole treatments and dual completion.

 

In 2013 the Company plans to focus on pilot projects for hard-to-recover reserves, improving its multi-stage hydraulic fracturing technologies and applying new technological solutions in the field of artificial lift.

 

“Developing new technologies is one of TNK-BP’s key activities. The Company’s portfolio includes hard-to-recover reserves in West Siberia, high-viscosity oil and highly depleted fields. New approaches and unique technologies are needed for successful development of these assets and to achieve the required level of profitability. To deliver steady production growth we’re planning to carry out over 600 operations within our pilot projects in 2013, as well as over 2,000 operations to scale-up solutions that have already proved successful”, said Emerson Milenski, TNK-BP Vice President, Technology.

 

TNK-BP is a leading Russian oil company and is among the top ten privately-owned oil companies in the world in terms of crude oil production. The company was formed in 2003 as a result of the merger of BP’s Russian oil and gas assets and the oil and gas assets of Alfa, Access/Renova group (AAR). The shareholders of TNK-BP also own close to 50% of Slavneft, a vertically integrated Russian oil company.