More than half the spending will be for drilling, TNK-BP says.
Uvat production is expected to increase by 18.6% this year to a total of 7 million tonnes. The company says production from the area was up 22% in the first half of 2012 over the comparable period of 2011.
Next year, the production target is 8 million tonnes, according to Yuri Masalkin, general director of TNK-Uvat.
Work this year will include completion of a 39 km road linking Ust-Tegusskoye and Tailakovskoye fields. The road will slash the cost and speed of supply delivery.