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TNK-BP

TNK-BP
Public ()
Traded as MCXTNBP
Industry Oil and gas
Predecessor TNK
ONAKO
SIDANKO
Founded 2003 (2003) (Moscow)
Headquarters Moscow, Russia
Key people
Eduard Khudainatov (appointed CEO)
Products Petroleum
Natural gas
Refined oil products
Revenue US$ 60.2 billion (2011)
US$ 9.0 billion (2011)
Total assets US$ 37.1 billion (2011)
Owner Rosneft
Number of employees
Approximately 50,000
Website www.tnk-bp.com/en/

TNK-BP (Tyumenskaya Neftyanaya Kompaniya, Tyumen Oil Company) was a major vertically integrated Russian oil company headquartered in Moscow. It was Russia's third-largest oil producer and among the ten largest private oil companies in the world. In 2013 it was acquired by Russian oil company Rosneft.

DeGolyer and MacNaughton confirmed that as of 31 December 2009 TNK-BP's total proved reserves amounted to 11.667 billion barrels (1.8549×10^9 m3) of oil equivalent, applying PRMS (formerly SPE) criteria. Proved reserves constitute a total proved PRMS reserve replacement ratio of 329%.

On 1 September 2003, BP and a group of Russian businessmen, represented by the AAR (Alfa-Access-Renova) announced the creation of a strategic partnership to jointly hold their oil assets in Russia and Ukraine and creation of TNK-ВР. ААR contributed its holdings in TNK International, ONAKO, SIDANCO, RUSIA Petroleum (which held licenses for the Kovykta field and the Verkhnechonsk field), and the Rospan field in West Siberia (the New Urengoy and East Urengoy deposits). BP contributed its holding in SIDANCO, RUSIA Petroleum, and its BP Moscow retail network.

In January 2004, BP and AAR reached an agreement to incorporate AAR's 50% stake in Slavneft into TNK-BP. Slavneft, which has operations in Russia and Belarus, was previously owned jointly by AAR and Sibneft (now Gazprom Neft).

In 2009, TNK-BP increased production to 1.69 million barrels per day (269×10^3 m3/d) of oil equivalent (excluding TNK-BP’s share in Slavneft production) compared to 1.642 million barrels per day (261.1×10^3 m3/d) of oil equivalent produced in 2008. In 2009, TNK-BP's total proved reserves replacement ratio reached 329% according to PRMS methodology (formerly known as SPE). The average SEC LOF reserve replacement ratio over the past five years amounted to 139%.


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