TNK-BP and MRSK Holding Signed a Mutual Cooperation Agreement

According to this document, by the end of 2010 TNK-BP and MRSK Holding would draw up actions aimed at developing and modernizing electricity distribution networks through 2012 and coordinate joint actions to meet TNK-BP’s power supply demand in 2010-2015. Furthermore, the companies intend to cooperate in preventing emergencies, jointly identifying and remedying causes of technical disruptions.
“The partnership with one of the leading companies in the oil industry will allow coordinating long-term development plans between electrical grid distribution companies and one of the largest industrial consumers such as TNK-BP. The strategic partnership will bring understanding on how to coordinate creation of oil production and refining assets and electrical grid facilities”, said Nikolai Shvets, Director General of MRSK Holding OJSC.
Pavel Strunilin, Vice-President, Power Supply replied: “The agreement that we signed today will give TNK-BP a reliable partner in the electricity network industry. The companies have agreed to jointly develop energy savings programs, in particular, by reducing losses in networks. Moreover, TNK-BP will be able to do long-term planning for construction of power supply facilities”.
TNK-BP is Russia’s third largest oil company owned equally by BP and AAR (Alfa Group, Access Industries, Renova) consortium. TNK-BP also owns close to 50% of another Russian oil and gas company, Slavneft. TNK-BP accounts for approximately 16% of Russia's oil production (including its share of Slavneft). Total proved reserves (irrespective of license periods) under the Securities and Exchange Commission (SEC) guidelines amounted to 8.586 billion boe as of December 31, 2009. The company's upstream assets are located in West and East Siberia and the Volga-Urals region. TNK-BP owns five refineries in Russia and Ukraine, and retails through a network of 1,400 service stations operating under the BP and TNK brands.
MRSK Holding is one of the largest infrastructural enterprises in Russia. The Holding’s companies annually transmit around 600 billion kWh of electricity, it operates over 2 million km of power lines, its assets include more than 456,000 substations with 362 giga-volt-ampere of total transformer capacity. MRSK provides connectivity and electrical power transmission services through medium and low-voltage power lines in 69 regions of Russia.