BP and AAR name CEO for new holding company TNK-BP

BP PLC and Russian partners Alfa Group and Access-Renova (AAR) tentatively named an advisory board and senior executives for the new holding company, to be named TNK-BP, following its formal establishment later this year.

April 9, 2003

By OGJ editors

HOUSTON, Apr. 9 -- BP PLC and Russian partners Alfa Group and Access-Renova (AAR) tentatively named an advisory board and senior executives for the new holding company, to be named TNK-BP, following its formal establishment later this year.

The new company will incorporate Tyumen Oil Co. (TNK) and Sidanco Oil Co (OGJ, Feb. 17, 2003, p. 34).

The advisory board is intended to serve as TNK-BP's board. Alfa Group Chairman Mikhail Fridman was chosen as advisory board chairman. BP Group Vice-President Robert Dudley was chosen as TNK-BP's president and CEO.

German Khan, TNK's managing director, was named TNK-BP executive director. Sidanco's Pres. Laurie Smyth was named TNK-BP chief operating officer.

The advisory board's decisionss are subject to review and approval once TNK-BP and its board are finalized.