Killajoules

Rosneft and BP Complete TNK-BP Sale and Purchase Transaction

• Rosneft and BP today completed a number of transactions, in line with the terms announced in October 2012. As a result of the transactions:
• BP receives net $12.48 billion in cash, including a TNK-BP dividend of $0.71 billion, and 18.5 per cent Rosneft shares;
• Rosneft becomes holder of BP’s 50 per cent interest in TNK-BP in exchange for $16.65 billion in cash and 12.84 per cent of Rosneft shares;
• OFSC ROSNEFTEGAZ sells 5.66 per cent in Rosneft to BP in return for $4.87 billion in cash;

TNK-BP Wins Auction For Yuzhno-Uzunsky Subsoil Block In Nefteyugansky District
TNK-BP announces that OJSC Nizhnevartovskoe Neftegazodobyvayuschee Predpriyatie (a TNK-BP Group company) has won an auction for development rights to the Yuzhno-Uzunsky subsoil block (estimated C1+C2 reserves – 1.4 million tons).

TNK-BP To Invest $60 Million In Construction Of Hydrocarbons Sulfur Removal Facility At RORC
TNK-BP reports that it will invest over $60 mln in the construction of a hydrocarbons sulfur removal facility at CJSC Ryazan Oil Refinery Company (RORC, part of the TNK-BP Group). The facility is planned to be commissioned in 2015.

TNK-BP Invests $3 Billion In The Verkhnechonskoe Field Development
TNK-BP informs that the cumulative investment in the development of the Verkhnechonskoe field amounted to approximately 90 billion rubles. In 2012, the Company increased its investment in the project to 18.5 billion rubles, which is 4% higher compared to 2011.

TNK-BP Increased Production In Uvat By 19% In 2012
TNK-BP informs that according to preliminary data TNK-Uvat's 2012 oil production will amount to approximately 7 mln tons, 19% more than in 2011.

TNK-BP Invests $64m In Production Technology At Varyoganneftegaz Brownfields In 2013
TNK-BP will investabout $64 million in 2013 projects to deploy new production technologies at Varyoganneftegaz(VNG)assets.

Ryazan Refinery Invests $47 Million Into Hydrogen Production Plant
The Ryazan Oil Processing Company (ROPC, part of TNK-BP Group) is completing the construction of a 617 million m3/year hydrogen production plant. The total project investments are $47 million. The plant is scheduled for commissioning in the first quarter of 2013.

Rosneft Signs Agreement to Purchase AAR Consortium’s 50% Stake in TNK-BP
Rosneft today signed in Munich at 7:45 AM local time an agreement to purchase from the AAR Consortium (Alfa Group, Access Industries and Renova) its 50% stake in TNK-BP. The purchase price in the transaction is determined based on the base value of AAR’s stake in TNK-BP of $28 bln. Completion of the transaction is subject to approvals from Russian and European antimonopoly bodies and is expected to occur in the first half of 2013.

TNK-BP To Invest $45 Million To Cut Emissions
ТNК-ВР will invest $45 million to revamp its flaring systems at the Ryazan Refinery (Ryazan Oil Refining Company, or RORC, part of TNK-BP Group). In 2012, the Company will spend $3 million with plans to ratchet it up to as high as $8.5 million in 2013.

TNK-BP To Invest Over $170 Million In Developing Brownfields Using “Smart Field” System By 2016
TNK-BP announces that by 2016 it will invest over $170 million in an integrated program of automation and optimization of production at the Company’s mature fields.