TNK-BP Signed Agreement with the Orenburg Regional Government on Key Areas of Cooperation in 2012

TNK-BP and the Government of the Orenburg region signed an Agreement to determine the key areas and parameters of cooperation between the Company and the region in 2012.

TNK-BP is the biggest taxpayer in the Orenburg region and implements a number of social investment programs in the region including charitable projects, sponsor aid and environmental protection activities. The cooperation arrangements include, among other things, company plans to repair and construct public roads in the Orenburg oil production areas. The company will allocate 300 mln rubles for that purpose in 2012.

According to Alexander Grabovskiy, Vice President, TNK, TNK-BP contributed 12.5 bln rubles to the Orenburg region consolidated budget last year. ‘This is a record high figure’, he said. – ‘We surpassed our commitments under 2011 agreement by 144% and remain the biggest taxpayer in the region’.

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