OREANDA-NEWS. January 18, 2013. TNK-BP announces that LLC TNK-Uvat (a subsidiary of TNK-BP) boosted oil reserves in the fields of its Uvat project by 22.6 million tons in 2012 through an efficient program of exploration activities, reported the press-centre of TNK-BP.

TNK-BP is implementing a comprehensive program to build its resource base, including by incrementing reserves at new fields to secure continued sustainable growth in hydrocarbon production. TNK-Uvat is consistently expanding its exploration program: in 2012, it increased its projects budget by 10% to USD 110 million, enabling it to complete preparations to develop new reserves in the fields of Central Uvat (Severo-Tyamkinskoe, Radonezhskoe, Protozanovskoe, Severo-Tamarginskoe), confirm the oil potential of Southern Uvat and discover the new Lyantinskaya accumulation at the Ust-Tegusskoe field with reserves of over 10 million tones.

“The Uvat fields are one of the Company’s main strategic projects. In 2012, production here was around 7 million tones. Implementation of a large-scale exploration program is therefore a key element of replenishing and building the asset’s resource base from the standpoint of TNK-BP’s sustainable development. In 2011, TNK-Uvat achieved a reserves increment of 18 million tons of oil, while last year the figure was even higher, at 22 million tones. Next year we plan to expand investment and the scope of work, with a focus on exploring the Eastern Hub and Southern Uvat”, said Yuri Masalkin, General Director, TNK-Uvat.