TNK-BP to increase value of its assets

The TNK-BP oil holding is going to increase the value of its assets and oil production at its deposits, especially in Western Siberia and the Volga and Ural region, President and CEO of the company Robert Dudley told journalists at the 2nd Russian US energy summit in St. Petersburg. According to him, in 60 to 100 days TNK-BP will announce, which projects will be top priority. Currently TNK-BP specialists are estimating reserves at the company's deposits and expenditures necessary for developing them, Dudley said. After estimating them, the company is going to enhance Russia's presence on international energy markets and participate in expanding the country's export opportunities, the head of TNK-BP stressed.

In the first half of 2003, BP's oil production, including TNK-BP's 50 percent, was 137.5 million tons, Dudley added.

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