TNK-BP Appoints New Chief Financial Officer

TNK-BP has appointed James Martin Owen to the position of Chief Financial Officer. Mr. Owen will take up his appointment with TNK-BP in mid-January 2006.

Mr. Owen replaces Kent Potter who retired from TNK-BP in August this year. His appointment follows an extensive Russian and international selection process. Mr. Owen has more than 30 years' professional and commercial experience in the international oil and gas industry, much of it working with Chevron in senior financial roles around the world. Most recently he held the position of General Manager for Finance and the role of Board Secretary at Tengizchevroil LLP in Kazakhstan.

TNK-BP's President and Chief Executive Officer, Robert Dudley commented on the appointment; "Jim has deep experience in leading exactly the sort of transformational financial activities we are progressing at TNK-BP. The management of the company, as well as its Board of Directors, are pleased to have found such a sound and well qualified individual to fill this important role for us."