TNK-BP: Plans $45B in Upstream Investment By 2021

MOSCOW (Dow Jones Newswires), Sep. 15, 2011

Anglo-Russian oil joint venture TNK-BP Ltd. plans by 2021 to invest $45 billion in upstream production and $4 billion in the downstream segment, the company's head of strategy and business development Stan Miroshnik said Thursday.

Miroshnik also said that by 2021, 27% of TNK-BP's overall production will come from the northern Yamal region, while the share of hydrocarbons from the Orenburg region in Western Siberia will fall to around 20% from over 50% today.

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