Moscow, January 19, 2011 - TNK-BP announced today that the Group has commenced its first offshore drilling operations on the Lan Do field development project offshore Vietnam.

The Lan Do 2P well was spud on Saturday 14th January 2012.

Lan Do field contains 2 vertical sub-sea wells at a water depth of about 185 meters and is located 28 kilometers east of Lan Tay Platform in Block 06.1, where TNK-BP is producing natural gas and condensate for power generation in Vietnam. The sub-sea wells drilling will be tied back to Lan Tay Platform using a single 12-inch flow line.

Gas production from Lan Do, which is scheduled to come on stream in the fourth quarter of this year, is expected to bring 2 billion cubic meters of gas annually to sustain Block 06.1's current production of 4.7 billion cubic meters.

Alexander Dodds, Executive Vice President, Upstream, said: "Launching operations at the Lan Do field is a milestone in TNK-BP's operational history. It will provide us with crucial technical data and allow us to acquire unique new competencies in offshore field development."

NOTES FOR EDITORS:

TNK-BP acquired from BP a 35% stake and has become the Operator of Block 06.1, 320km off the southern coast of Vietnam and containing the Lan Tay and Lan Do gas condensate fields. The acquisition brought TNK-BP production of 17 thousand barrels of oil equivalent per day on a net entitlement basis in 2011. Block 06.1 is a part of an integrated gas to power project that TNK-BP acquired from BP. The project also includes the Nam Con Son Pipeline, which is the world's longest two-phase pipeline, and the Phu My 3 Electric Power Plant.

TNK-BP is Russia's third largest oil company, 50% held by BP and 50% held by the AAR Consortium (Alfa Group, Access Industries, and Renova). TNK-BP also owns close to 50% of another Russian oil and gas company, Slavneft. SEC proved reserves (life of field basis) were 8.794 billion boe as of December 31, 2010.

For further information please contact:

Public Affairs Division: Tel. (495) 363-27-57 media@tnk-bp.com


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