Rosneft, TNK & BP To Combine Sakhalin Offshore Operations

Rosneft is in talks with Tyumen Oil and BP to combine the three companies' interests in their Sakhalin offshore projects. BP and Rosneft are jointly developing fields on Sakhalin's blocks 4 and 5, in which TNK also holds several licenses. Combined, the fields are estimated to hold 853 million tons of oil and 1.64 trillion cubic meters of gas. In February, BP said it would pay $6.75 billion to create a joint venture with TNK.