OREANDA-NEWS. TNK-BP announced that Executive Director German Khan and Chief Operating Officer Tim Summers, met with RF Minister of Natural Resources Yuri Trutnev. The meeting focused on idle well stock at TNK-BP fields. The executives briefed the ministry on the current situation with idle wells.

TNK-BP is currently developing 143 fields, and the total stock of producing wells is 21,229. In 2006, the stock of idle wells was 8,362 (39% of the total number of development wells), with eight key fields accounting for 82% of idle wells.

TNK-BP advised the Ministry that since the company’s formation it had drilled some 1200 new wells and already reactivated some 4,500 previously idle wells.

The program is designed for the period up to 2011 and has been agreed with the Ministry of Natural Resources. Total investment under the program will reach $2.2 billion, which will be used to perform 11,000 wellwork jobs on idle wells. Some $611 million of this amount will be invested in 2007.