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TNK-BP to invest $45 billion for oil production ramp up


Published Sep 19, 2011
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TNK-BP replaces 129% of production with new reserves

TNK-BP outlines the company's strategy and outlook for the next ten years which will see an investment of $45 billion in oil extraction and a further $4 billion in oil refining.

TNK-BP is aiming to ramp up production to anywhere between 40 to 90 million barrels of oil a year from its overseas assets, while West Siberia output declines.

Yamal Peninsula project in the Russian Arctic in particular will be under focus for production increase.

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