OREANDA-NEWS. May 15, 2008. TNK-BP is expecting intensive and considerable growth of its gas business in the Orenburg Region in the nearest five years, Timothy Summers, Chief Operating Officer of TNK-BP, said to journalists, reported the press-centre of TNK-BP.

“The Orenburg Region has a huge potential for development of gas business. For this reason, it is quite possible that the Orenburg Region will become not only an oil province of TNK-BP but also a gas province,” said he.

Mr. Summers noted that utilization of associated petroleum gas may grow into a “fairly decent gas business.” According to him, the fields of the company in the Astrakhan Region may also contain substantial gas reserves.

The main subdivision of TNK-BP in the Orenburg region is the joint-stock company “Orenburgneft,” which has 95 oil, gas, and gas condensate fields with overall recoverable reserves estimated at 250 million tons.

According to the Fuel and Energy Complex Central Dispatch Department, Orenburgneft produced 15,341 million tons of oil and 1.625 billion cubic meters of gas in 2007.

Currently, the average utilization of associated petroleum gas in the fields of Orenburgneft is 70% and will be raised up to 95% by 2012 to meet the international standards. This project implies extinguishing of flares and selling or processing of associated petroleum gas.