RusEnergy

03-13-2009 - News Time - TNK-BP says it will invest roughly $ 700 M in 2009—2013 in the developing the Kamennoe field in the Khanty-Mansi Autonomous Area. This development will add around 200 million barrels of reserves (per SEC methodology) over the next four years to TNK-BP’s balance sheet. Crude production at Kamennoe totaled 1.3 M tons in 2008, and in 2009 it is expected to reach the level of 1.8 M tons. By 2012, when the peak oil rate is expected, crude production may total 4.2 M barrels per annum. TNK-BP’s press service stated that Kamennoe will be a showcase of the “Oilfield of the Future” in terms of automation of various production processes. Such an approach helps reduce the need for maintenance staff and decrease operational expenditure. All facilities are equipped with remote control and regulation systems with wireless access as well as emergency shutdown systems. As a result, over the last two years staff headcount per unit was reduced in half’, according to the TNK-BP press service.