TNK-BP to Use More Local Contractors in New Projects

Moscow, May 29, 2012 – TNK-BP plans to use more local contractors and suppliers fr om its key regions of operation in its new large-scale projects in Russia.

The Company has held a meeting with local contractors and suppliers in Krasnoyarsk Region, wh ere Rospan International (a 100% subsidiary of TNK-BP) is working on a large-scale investment project to develop the Suzunskoe and Tagulskoe fields. Total investment will be around $6 bn, not including the cost of building inter-field infrastructure.

Over 40 representatives of leading companies in the region, regional industry manufacturing associations and the government of Krasnoyarsk Region took part in the round table. The local energy sector companies presented their capabilities and modern high-tech developments to the TNK-BP representatives.

“TNK-BP is ready to build stable long-term relationships with Krasnoyarsk contractors and to work together to bring them up to the Company’s high standards of goods and services. With the support of the government of Krasnoyarsk Region we aim provide our potential contractors with more information about our objectives in the region and to do more to explain how they can take part in tenders. The Company’s potential procurement spending could be around $1 billion”, stressed TNK-BP Vice President Oleg Chemezov.

“We are working to ensure that the needs of our primary industries – metals and oil – are met as a far as possible by products and services from local companies. We are in partnership with TNK-BP on the development of the Suzunskoe and Tagulskoe oil fields and welcome the fact that the Company is beginning to work actively in our region”, said Viktor Tomenko, Chairman of the Government of Krasnoyarsk Region.

Information for editors:

TNK-BP is Russia’s third largest oil company and is owned by BP and the AAR consortium (Alfa Group/Access Industries/Renova) on a parity basis. Additionally, TNK-BP owns approximately 50% of the Russian oil and gas company Slavneft. TNK-BP’s share in Russia’s oil production (including its share in Slavneft) is about 16%. The Company’s total proved SEC LOF reserves are 9.115 billion BOE as of December 31, 2011.

References to “TNK-BP” or “the Group” mean “TNK International and the Company’s consolidated subsidiaries” unless the context requires a different reading.

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Public Affairs Division: Tel. (495) 363-27-57

media@tnk-bp.com

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