Sechin, Dudley form TNK-BP integration group

Integration plans: BP and Rosneft team up on fusing TNK-BP with Russian giant

BP and Rosneft have agreed to form a high-level steering committee to co-ordinate the integration of TNK-BP and Rosneft in the wake of October’s $61 billion deal by the Russian state giant to buy the Anglo-Russian venture.

Rosneft boss Igor Sechin is to chair the new committee while BP chief executive Bob Dudley will also be part of the group, the two leaders agreed during talks on Moscow on Wednesday.

Sechin said he was “confident that the experience of Bob Dudley and of the BP team will raise the efficiency of the integration process and will ensure the combined company becomes one of the most competitive international majors”.

Dudley said that Rosneft stood to “unlock significant value” from acquiring TNK-BP, a move which he said was good for all parties concerned.

He also said that BP “sees significant potential for…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index