TNK-BP signs Yamal pipeline pact

Published: December 16, 2011

TNK-BP  will invest up to $10 billion in Arctic oilfield development and construction of a pipeline. Russia is desperate to tap new hydrocarbon resources at the Arctic and East Siberia as its traditional deposits in the West Siberia hinterland are largely depleted.
The oil reserves and resources of the company’s fields in Yamal region are estimated at approximately 5 billion barrels.

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