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TNK-BP to spend $800 million in Uvat area

TNK-BP expects to invest up to $800 million this year in exploration and development in the Uvat area of the Tyumen region of West Siberia (OGJ Online, Feb. 18, 2009).

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.

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