Moscow, November 29, 2011 - TNK Vietnam, a wholly-owned
subsidiary of TNK-BP, has successfully completed a 32-day
Subsea Intervention Campaign on the Lan Tay offshore
facilities. The work was performed to prepare the
infrastructure prior to the development of the Lan Do gas
field in block 06.1 on the Vietnam continental shelf.
This scheduled intervention campaign at the offshore
platform became the first technical project implemented by
TNK-BP outside of Russia. The company successfully solved
new engineering and technological issues to ensure reliable
operation of five underwater gas wells in the Lan Tay
field, one of the largest gas fields in Vietnam.
Additionally, new data was gathered for use in updating the
remaining reserves figures and forecasting production
dynamics of the field.
In carrying out the maintenance work, the company used two
diving support vessels and remotely operated underwater
vehicles and engaged over 100 specialists from
international contractors in addition to its own employees.
Hugh McIntosh, General Director of TNK Vietnam, said:
"Following the completion of the sub-sea intervention
campaign at Lan Tay, the field is ready to reach the
highest levels of production during periods of high
Information for editors
TNK-BP is the third largest oil company of Russia. It is
owned on a parity basis by BP and the AAR Consortium (Alpha
Group, Access Industries, and Renova). TNK-BP owns about
50% of the Russian oil and gas company Slavneft. TNK-BP's
share in Russia's oil production, including its share in
Slavneft, is approximately 16%. As of December 31, 2010,
the total proven SEC life-of-field (LOF) reserves of the
company, estimated according to the US Securities and
Exchange Commission (SEC), amount to 8.794 billion barrels
of oil equivalent.
In October 2010, TNK-BP and BP announced that they signed
agreements on acquisition of BP's production, pipeline
transportation, and power generation assets in Vietnam and
Venezuela by TNK-BP for a total sum of US $1.8 billion. The
companies concluded a deal in June 2011 for acquisition of
assets in Venezuela and officially obtained an investment
license in October 2011 for development of block 06.1 in
Vietnam. In addition, TNK-BP signed an agreement with the
Brazilian company HRT O&G on acquisition of a 45% stake in
an oil and gas project in the Solimões basin in Brazil.
TNK-Vietnam, a subsidiary of TNK-BP, became the operator of
the project at the offshore platform Lan Tay in October
2011, when changes were officially made in the investment
license for development of offshore block 06.1. Currently,
the company searches for new opportunities for organic and
inorganic growth and establishes strategic partnerships for
development of new energy projects in Vietnam.
References to TNK-BP or Group mean TNK-BP International and
its consolidated subsidiaries unless the context requires a
For more information, please contact:
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