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. Last Updated: 07/27/2016

TNK-BP to Invest $6Bln in Suzun, Tagul Oil Fields by 2020

KRASNOYARSK—TNK-BP plans to invest $6 billion by 2020 in the development of the Suzun and Tagul oil fields in Krasnoyarsk and the construction of an oil pipeline to link them, the oil company said in a statement following a meeting between TNK-BP Management vice president Oleg Chemezov and the chairman of the regional government, Viktor Tomenko, Interfax reported.

"All of TNK-BP Management's commitments on investment and projects begun in Krasnoyarsk remain unchanged. Already by 2020 the company plans to bring oil production in the region to more than 11 million tons per year," Chemezov was quoted as saying in the statement.

TNK-BP and the Krasnoyarsk regional government signed a social and economic cooperation agreement in February under which the company committed to developing its production infrastructure and financial social programs in the Siberian region.

(MT)