TNK-BP and PetroVietnam sign ESPO blend oil supply contract

TNK-BP announces that, as part of its long-term cooperation with Vietnamese state corporation PetroVietnam, it has signed the contract to supply Russian ESPO crude oil blend to Vietnam. This is the first time ESPO crude oil blend will be delivered to Vietnam. The first 100,000 ton shipment under the new contract will take place in November 2010.

The contract with PetroVietnam is an important milestone in TNK-BP\'s development as an international company and is being implemented in line with the company\'s strategic plan to develop its international trading operations.

"The signing of this contract to supply oil to Vietnam is a first and important step towards broad-based cooperation between TNK-BP and PetroVietnam. We are committed to establishing a long-term presence in Vietnam and to pursuing joint projects in the upstream and refining sectors", said Maxim Barsky, Deputy Chairman of TNK-BP\'s Management Board.