24 Dec 2010 11:42

TNK-BP plus Slavneft to up oil extraction 1.3% to 715 mln boe in 2011

MOSCOW. Dec 24 (Interfax) - The board of directors at TNK-BP Ltd, the TNK-BP group's main holding company, has approved management recommendations for a 3-year plan that foresees the company boosting oil production 1.3% to 715 boe next year, including Slavneft's contribution.

A TNK-BP press release says the business and development plan says that production without Slavneft will increase 1.7% to 647 million boe. Organic capex should increase 15% to $4.6 billion, and 100% replenishment of reserves is anticipated.