FMS Temporarily Extends TNK-BP Chief Executive's Work Visa

BP welcomes the temporary extension of TNK-BP Chief Executive Bob Dudley’s current work visa, following a constructive meeting at the Federal Migration Service.

BP Executive Vice President, Lamar McKay, said, "Bob Dudley has a valid employment contract and is therefore entitled under Russian law to a renewal of his work visa. Therefore we remain confident that, if the laws are properly applied, he will be given a new work visa."

Leading Russian law firm Egorov, Puginsky, Afanasiev & Partners, which BP has retained to advise on matters related to the current TNK-BP shareholder dispute, including the associated issues impacting the TNK-BP joint venture, has issued an opinion which fully supports the view that Dudley’s employment contract is valid, and that he is therefore entitled by law to receive a new work visa.

It confirms that under Russian law fixed-term employment contracts automatically become open-ended upon expiry of the original terms, unless there is a specific order to terminate. Since there has been no specific decision by Dudley’s employer to terminate his contract, and he continues to perform his duties, his employment contract remains valid.