TNK-BP and BNP Paribas sign a Memorandum of Understanding on cooperation under the Kyoto protocol to the UN Framework Convention on Climate Change, TNK-BP

Release Date: 2009-11-27

TNK-ВР and BNP Paribas intend to jointly implement projects aimed at increasing the economic efficiency of associated pertroleum gas utilization at TNK-BP oil fields in Russia

As a first step towards practical realisation of the MoU, TNK-BP and BNP Paribas signed a contract which provides for the sale of Emission Reduction Units generated within the “Samotlor gas gathering” project framework. TNK-BP has successfully commissioned five vacuum compressor stations at Samotlor oil treatment facilities which allows utilisation of 90 million cubic metres of associated gas during the final stages of the oil separation process.

In early 2010, TNK-BP and BNP Paribas are planning to consider further options for potential cooperation in the Orenburg region, including associated gas utilisation at the Vakhitovskoye oil field and construction of the Rodnikovskaya power plant.

“The memorandum which we signed today with BNP Paribas creates new future opportunities and allows us to be more efficient in planning our associated gas utilisation programme for the next few years,” said Victor Vekselberg, Executive Director of TNK-BP. “Sucessful cooperation in this area is a powerful driver for attracting investment in the Russian economy and will demonstrate Russia’s growing integration in the global economic community. We are pleased that the emission reduction purchase contract with regard to associated gas utilisation at the Samotlor oil field will provide a material contribution to implementing an intergovernmental agreement between Russia and France on joint execution of projects under the Kyoto protocol.”

Type:	NORMAL
Company:	TNK-BP
Country:	Russian Federation