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TNK-BP to Hike Spending

TNK-BP plans to increase spending on three North Siberian deposits in the second half as it seeks to boost production, Rustem Bakirov, head of TNK-BP’s Rospan International unit said Monday.

Investment in the Suzun, Tagul and Russko-Rechenskoye oil fields will rise more than 73 percent in the second half, he said. The company spent 2.4 billion rubles ($80 million) on the fields, part of the Bolshekhetsky project, in the first half. 

(Bloomberg)


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