04-12-2012

TNK-BP introducing best international practices of EPC projects implementation in Russia

TNK-BP strives to improve the efficiency of major project implementation by introducing best international practices and mechanisms of major project “turnkey” contracting (ECP - Engineering, Procurement, and Construction).

TNK-BP hosted an international conference where representatives of over 60 major foreign and Russian ECP contractors, oil and gas experts and managers of Russian vertically integrated oil majors discussed international approaches to ECP projects; reviewed lessons learnt and experience gained from ECP contracting in Russian, as well as the possibilities of combining the best of Russian and foreign practices in specific projects. They also explored the conditions of efficient partnership in "turnkey" project implementation.

TNK-BP is one of the largest facility construction customers in Russia. Under 2013 contracting campaign TNK-BP announced eight tenders using new ECP contracting model for the total amount of ca. $ 500 mln. The Company is also contemplating a possibility to expand the EPC model onto construction facilities in Yamal (Yamal-Oil, Yamal-Gas), Irkutsk (VCNG) and Ryazan (RORC) for the amount exceeding $4 bln.

TNK-BP is gradually improving the efficiency of contracting systems and target conferences with the involvement of a wide range of all interested participants of the oil and gas products and services market are an integral part of a transparent and open contractor policy, applicable both to existing and potential contractors.

“The conference has been an ideal platform to discuss key developments in ECP contracting with project teams-representatives of contractor companies which implement these projects. It was necessary to hear opinions of foreign and Russian contractors, customers and industry experts and to exchange with them the experience of implementing projects involving large investments. This will enable each party to develop the most efficient methods and approaches and mitigate risks, which is essential for such ambitious targets. The conference has evoked a warm response from all participants and this once again confirms the importance of such events", – said Olga Malyshkina, Vice President, SCM Upstream.