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East Siberia oil growth uncertain – TNK-BP CEO

Lack of exploration in new East Siberian oil fields means it is unclear to what extent that region can make up for declines in West Siberian production, the boss of one of Russia’s biggest companies said on Tuesday.

“It remains to be seen,” Bob Dudley, Chief Executive of TNK-BP, told reporters on the sidelines of the Oil and Money conference in London.
Although many in the Russian oil industry were betting on the region to avert a future drop in Russian output, Dudley said work was being done on only two significant fields.

“Exploration has hardly begun beyond those two fields,” he said.


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