OREANDA-NEWS. November 16, 2012. ТNК-ВР is completing the front-end phase of its Yamal Oil Pipeline Project, in which the company has invested more than USD 80 million in 2011 and 2012, reported the press-centre of ТNК-ВР.

The money was used to fund conceptual design, front-end engineering and the early construction operations on the pipeline and associated infrastructure.

The 374-kilometer Yamal pipeline is designed to pump 14 million tons a year. The construction is due to begin in 2013 to be completed in 2016. The overall cost is estimated at USD 2.7 billion.

Hydrocarbon evacuation infrastructure is a critical component enabling TNK-BP to develop Yamal and northern Krasnoyarsk oil fields in a timely and effective manner. The Yamal system will link ТNК-ВР’s three major development projects in this region (Suzun, Tagul and Russkoye fields) to the Zapolyarnoye-Purpe pipeline and further on to the East Siberia-Pacific Ocean system.

“Effective Yamal development is a key strategic objective for TNK-BP. Our combined discovered reserves in the Yamal-Nenets and northern Krasnoyarsk regions total 10.8 billion barrels of oil equivalent”, says Alexander Zhagrin, Vice President, Yamal Oil Division, TNK-BP.