Russia's TNK-BP Eyes US Tight Oil
02/20/2013| 03:48am US/Eastern
By James Marson
MOSCOW--Russian oil producer TNK-BP Ltd. (>> TNK-BP Holding OAO) 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 (BP.LN) and a group of Soviet-born tycoons, is being taken over by Russian state-controlled oil giant OAO Rosneft (>> Rosneft' NK OAO).
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.
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