Approval Given to TNK-BP’s First Kyoto Protocol Project

In April 2010, a mandatory independent expert review (verification) of the reduction in greenhouse gas emissions was completed by Bureau Veritas Certification.
“TNK-BP views the Kyoto Protocol mechanism as an important step towards enhancing efficient utilization of associated gas. Last year we signed an ERU sale and purchase agreement with BNP Paribas within the framework of the Samotlor associated gas utilization project. In addition, TNK-BP is developing two projects in the Orenburg Region designed to cut greenhouse gas emissions under the Kyoto Protocol. Successful collaboration in this area will be a powerful incentive for attracting investment into the Russian economy”, said TNK-BP’s Deputy Executive Director, Gas Business Development, Alastair Ferguson.
The goal of the Samotlor gas gathering project is to separate and compress low-pressure associated gas in five newly-built vacuum compressor stations and supply it for further processing. This will reduce the amount of associated gas flared at the Samotlor field and lower greenhouse gas emissions into the atmosphere.
TNK-BP is the third largest oil company in Russia, owned on a parity basis by BP and the AAR consortium (Alfa Group / Access Industries / Renova). TNK-BP also owns around 50% of Slavneft, a Russian oil and gas company. TNK-BP accounts for roughly 16% of Russian oil production (including the share in Slavneft). The company’s total proved reserves under the SEC—LOF (life of field) criteria were 8.586 billion barrels of oil equivalent as of 31 December 2009.