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Modernizing of Koltsovo Airport Fuelling Company in 2012

Source: www.gulfoilandgas.com 8/29/2012, Location: Asia

TNK-BP will spend over 600 million rubles on modernizing the Koltsovo Airport fuelling company by the end of 2012, while also expanding the range of services offered by the airport and improving the quality of service, under a strategic cooperation agreement signed in Ekaterinburg by German Khan, Executive Director, OJSC TNK-BP Management and Evgeny Kuyvashev, the Governor of Sverdlovsk Region.

The agreement, which covers the period until December 31, 2016, states that TNK-BP will expand its network of service stations in Sverdlovsk to 45-50 sites, boosting annual fuel sales in the region to 150 million liters. TNK-BP acquired 12 service stations in 2011 and this year plans to complete the construction and renovation of 5 more stations, with a further 9 to follow next year.

Commenting on the agreement, Governor Kuyvashev noted that the administration is working to “create an attractive environment for business development and to encourage major integrated companies to come to the region.”

In turn, TNK-BP Executive Director German Khan stressed: “We have good prospects for maintaining initiatives and further developing the partnership, which will lead to prosperity for TNK-BP and Sverdlovsk Region.”

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