BP & AAR Complete TNK-BP Management Team

BP and Alfa-Access-Renova Group (AAR) have made further appointments to the management team of TNK-BP. These appointments, numbering 63 in all, will take effect upon formation of the new company; expected some time later this summer.

The senior leadership group has been finalized by the following appointments:

Mr. C. Kent Potter is appointed to the position of Chief Financial Officer. Mr. Potter currently serves as Senior Vice President and CFO for ChevronPhillips Chemicals Company and will initially join TNK and then transfer to TNK-BP on Day One of the new company. Mr. Potter has previously held senior positions with Chevron in the United States, the United Kingdom, and Kazakhstan.

Also, as the integration process evolved, adjustments have been made to the TNK-BP management structure. Mr. Viktor Vekselberg, Chairman of the TNK Management Board, will serve in the role of Chief Operating Officer in a transitional role, with Mr. Larry McVay appointed Deputy Chief Operating Officer (currently serving as BP Vice President, Upstream Technology). Mr. Vekselberg will work with Mr. McVay to share his experience and business relationships during Mr. McVay's transition into the C.O.O. role. BP and AAR wish to express their appreciation for the significant contribution made by Mr. Lawrence Smyth as President of SIDANCO and as a key player during the integration process.

Together with the senior leadership announced in March, the appointments announced today mark an important step in the formation of TNK-BP. They have been a result of great dedication, commitment and co-operation from team members from all three companies involved in the integration process. Pending the required regulatory and Board approvals; TNK-BP now has a complete management team - a team comprising a blend of the best leadership talent from TNK, SIDANCO and BP.

TNK-BP President and CEO elect Robert Dudley said; "I believe the structure we have developed for TNK-BP through an exhaustive and co-operative integration process has created a very strong foundation for the future success of TNK-BP. I am also delighted that we have secured such outstanding quality and depth in our new management team. I look forward to the next round of appointments in the coming month."