BP and AAR Reaffirm Commitment to Growth and Success of TNK-BP as Talks Continue with Rosneft Following Expiry of Agreement
BP and Alfa- Access- Renova (“AAR”) announced today that they would intensify their efforts to ensure TNK-BP’s continued success following the lapse of the BP-Rosneft share swap transaction (and the related Arctic exploration opportunity) originally announced on 14 January 2011. In recent months, BP has conducted detailed negotiations with AAR …
Arbitral Panel Permits Conditional Completion of BP-Rosneft Share Swap-Subject to Rosnefts Consent and Assignment of Arctic Opportunity to TNK-BP
The arbitral panel has today issued a consent order permitting BP and the Alfa-Access-Renova (AAR) consortium to assign the Arctic opportunity to TNK-BP, subject to Rosneft consent. The order also permits the proposed share swap between BP and Rosneft to proceed subject to Rosneft having consented to assign the Arctic …
BP Rosneft share swap prohibited
BP announced today the arbitral tribunal has ruled that the interim injunction prohibiting closing of the share swap transaction with Rosneft will remain in place until further notice. However BP is now able to discuss the possibility of an extension of the April 14 deadline under which the share swap …
BP Remains Committed to Partner with Russia
BP announced today that an arbitral tribunal has ruled that the interim injunction issued to prevent BP’s proposed transaction with Rosneft, which includes Arctic exploration and a share swap transaction, from proceeding should continue. BP will now apply for a determination whether the share swap may proceed on its own. …
Russian Arctic Thaws with Rosneft-BP Deal
Mark Thomas Russia’s offshore arctic shelf has become one of the most scrutinized frontier oil and gas sectors in the world, thanks to the ground-breaking deal done between Rosneft and BP. But while most western observers have chosen to look at what the agreement means in terms of benefits for …
New Methods to Evaluate the Performance of Enhanced Oil Recovery Techniques in Active Wells
One of the specific features of Brownfield development is a gradual yet steady production decline. First and foremost, this is caused by reserves depletion, reservoir pressure decline, and increased watercut. Various enhanced oil recovery (EOR) techniques are used to maintain production or slow down its declining production rates and therefore …
Accurate Reserves Evaluation Ensures TNK-BP’s Future Success
Optimal solutions for resource base development as well as the overall growth strategy of any oil and gas company are defined based on accurate estimation of hydrocarbon reserves. On the other hand, if reserves estimation is inadequate state agencies may delay the approval of field development documentation, which entails additional …
TNK-BP and PetroVietnam Sign ESPO Blend Oil Supply Contract
TNK-BP announces that today, as part of its long-term cooperation with Vietnamese state corporation PetroVietnam, it has signed the contract to supply Russian ESPO crude oil blend to Vietnam. This is the first time ESPO crude oil blend will be delivered to Vietnam. The first 100,000 ton shipment under the …