TNK-BP to Target US Tight Oil

MOSCOW - Russian oil producer TNK-BP Ltd. wants to gain access to U.S. tight oil projects in order to get expertise that can be used on deposits in Russia, the company's senior vice president for international projects, Boris Zilbermints, said Wednesday.

Russia has potentially huge tight oil resources in Western Siberia, where output at its main Soviet-era fields is waning.

TNK-BP, a joint venture between BP plc and a group of Soviet-born tycoons, is being taken over by Russian state-controlled oil giant OAO Rosneft.

Mr. Zilbermints said he'd had no contact with Rosneft on integration. He said the integration process would begin after the takeover closed, expected in the first half of this year.

Copyright (c) 2012 Dow Jones & Company, Inc.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here