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TNK-BP started its operations in Ukraine on June the 11th, 2004. The corresponding decision has been made by the international holding’s management in connection with the accelerated pace of development of the business in Ukraine.
The opening of the administrative office in Kyiv testified to a significant interest on the part of the holding company in this market, the increased attention to the Ukrainian project from the side of TNK-BP shareholders, and the long-term and serious intensions of the Russian and British partners. The establishment of the company has actually become one of the final stages of the integration processes between TNK and BP companies, which began in 2003.
TNK-BP Commerce, functioning as the corporate center of TNK-BP in Ukraine, manages the group’s enterprises, consisting of the sales and production facilities, investment companies, and other enterprises.
TNK-BP Commerce is responsible for developing a single strategy and unified standards for all of the group’s enterprises, exercises control over their implementation, and monitors the utilization of its assets in Ukraine. Moreover, it performs functions on the establishment of marketing, innovation, investment, and recruitment policies, as well as on ensuring the business security of business of TNK-BP group of companies in Ukraine, representation of the holding’s interests at the state administrative bodies, and interaction with key business partners and the mass media.
Additional information
TNK-BP is a leading Russian oil company and is among the top ten privately-owned oil companies in the world in terms of crude oil production. The company was formed in 2003 as a result of the merger of BP’s Russian oil and gas assets and the oil and gas assets of Alfa, Access/Renova group (AAR). BP and AAR each own 50% of TNK-BP. The shareholders of TNK-BP also own close to 50% of Slavneft, a vertically integrated Russian oil company.
TNK-BP is a vertically integrated oil company with a diversified upstream and downstream portfolio in Russia and Ukraine. The company’s upstream operations are located primarily in West Siberia (Khanty-Mansiysk and Yamalo-Nenets Autonomous Districts, Tyumen Region), East Siberia (Irkutsk Region), and Volga-Urals (Orenburg Region). In 2007 the company produced on average 1.6 mboed. Including its 50% share in Slavneft, average production was 1.8 mboed.
The independent audit conducted by DeGolyer and MacNaughton confirmed that as of 31 December 2007 TNK-BP’s Total Proved Reserves were 8.225 bn bbl of oil equivalent, applying SEC methodology on a life of field (LOF) basis. Proved Reserves constitutes a Total Proved SEC (LOF) reserve replacement ratio of 179%.
Under PRMS (formerly SPE) criteria, Total Proved Reserves were 9.982 bn bbl of oil equivalent. This represents a Total Proved PMRS reserves replacement ratio of 297%.
TNK-BP controls 675 thousand bbl/day in installed refining capacity, with principal refining assets located in Ryazan (near Moscow), Saratov (Volga-Urals), Nizhnevartovsk (West Siberia) and Lisichansk in Ukraine.
TNK-BP operates a retail network of approximately 1,600 filling stations Russia and Ukraine working under the BP and TNK brands. The company is one of the key suppliers to the Moscow retail market and is a market leader in Ukraine.
TNK-BP is headquartered in Moscow and is governed by a multinational management team with experience of working in over 50 different countries. A blend of the best international and Russian talent ensures accelerated introduction of world-class technology, project management, corporate governance and best Health, Safety and Environment practices.
TNK-BP employs approximately 65,000 people, mostly located in eight major areas of Russia and Ukraine.