TNK-BP innovative technology and fundamentally new approaches to hard-to-recover reserves development were in the focus of attention at the Third TNK-BP Technology Forum. The Forum brought together more than 300 company specialists and oil and gas industry leader representatives in Nizhnevartovsk.

 

Developing the fields with hard-to-recover reserves is one of the key objectives for TNK-BP, and the Technology Forum is an effective floor for discussing the current technological solutions and potential projects. TNK-BP identified seven development prospects with hard-to-recover reserves of ca. 600 mln tons of oil.

 

"The key thing we need is efficient technology that would allow optimal development of “challenging” oil reservoirs", said Oleg Mikhailov, Vice President, West Siberia Area, TNK-BP. – "This is exactly the discipline we are going to advance in the nearest years by engaging highly skilled employees and developing our partnership with major international companies. In particular, we plan to adapt the technology they used in the USA to put tight formation hydrocarbons in production to the conditions of our Samotlor field".

 

In his turn, Francis Sommer, Senior Vice President, Operations and Technology, TNK-BP emphasized that West Siberia was and remains a strategically important element of TNK-BP business. "We are already certain about the key technology that will help to keep a stable production level and provide an opportunity to develop hard-to-recover reserves", he said. – "A lot of pilot projects are launched in the company subsidiaries and we are working to improve them".

 

TNK-BP is Russia’s third largest oil company and is owned by BP and the AAR consortium (Alfa Group/Access Industries/Renova) on a parity basis. Additionally, TNK-BP owns approximately 50% of the Russian oil and gas company Slavneft. TNK-BP’s share in Russia’s oil production (including its share in Slavneft) is about 16%. The Company’s total proved SEC LOF reserves are 9.115 billion BOE as of December 31, 2011.