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TNK-BP Will Reduce Electricity Costs in Artificial Lifting by $31 Million in 2012

TNK-BP plans to cut electricity costs in it`s artificial lift activities by $31 million this year, as part ofthe Company`s energy efficiency improvement program.

The Company intends to integrate energy-efficient technologies in 6,020 wells, which is 35% more than in 2011. Artificial lifting accounts for more than half of the electricity consumed by TNK-BP. The application of the latest and most advanced engineering solutions and equipment will have a significant economic effect.

“Improvement of energy efficiency is one of the most important factors for ensuring production profitability, especially in brownfields. According to our plans for this year, implementation of a comprehensive power-saving program in our artificial lift activities will save TNK-BP approximately $31 million, which is 30% more than the savings in 2011,” said Eric Liron, Vice President, Wells, TNK-BP.

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