Moscow Warns TNK-BP Over Gas Licence
Published by Andy Rowell May 22nd, 2007 in Gas, Politics, Russian oil
There is no sign of BP’s troubles stopping. Moscow has now ratcheted up the pressure on BP’s Russian venture, warning that TNK-BP could see the licence for its vast Kovykta gas field revoked within “a matter of days”.
Oleg Mitvol, head of Russia’s environmental watchdog, said his agency would open a probe tomorrow into whether TNK-BP was meeting licence terms to develop the east Siberian field – as a three-month deadline passed for production there to be boosted to 9 billion cubic metres in line with requirements. TNK-BP has said this target would be impossible to meet.
“If everything goes according to the law then [TNK-BP] should lose the licence,” Mr Mitvol said, adding that a special commission would meet in “the next few days” to decide whether to revoke it.

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