In 2004-08, investment in the Kamennoye project amounted to over $600 million. By the middle of the next decade, output from the field is expected to reach about four million tons a year. Kamennoye is one of the greenfield projects developed by TNK-BP with estimated recoverable reserves of 297 million tons by the Russian reserves classification.
Mikhail Fridman, interim chief executive officer and executive chairman of TNK-BP said, “We unlocked the potential of another complex field which will provide noticeable contribution to Russia’s oil output and create jobs and industrial contracts in the north-west of the Khanty-Mansiisk region.”
“It’s the third project in eight months that we have brought on stream despite the challenging economic and financial pressures facing the industry,” said Tim Summers, chief operating officer of TNK-BP.
The project has been implemented in close community engagement to increase public awareness of its social and environmental components.