17 Jun 2011 19:27

TNK-BP may increase capex 10%-15%; will pay good dividends - Barsky

ST. PETERSBURG. June 17 (Interfax) - TNK-BP will increase capital expenditure 10%-15% each year and the company will pay good dividends, Deputy CEO Maxim Barsky told Rossiya-24 television.

"Operating cash flow is around $10 billion, of which $4 billion-$4.5 billion is capex. We'll pay the rest in dividends. I hope that if [oil] prices stay high then our capex will grow something like 10%-15% per year, and that we'll continue to pay high dividends. Plus e can invest in new international projects," he said.