MOSCOW, March 2 (UPI) -- Anglo-Russian venture TNK-BP said it was unfazed by the economic downturn, boasting a 2.9 percent increase in oil and gas volumes in 2009.
A lingering economic crisis dragged on energy demand, putting pressure on some of the largest oil and gas producers in the world.
TNK-BP, the third-largest oil and gas producer in Russia, said its oil and gas volumes for 2009 rose 2.9 percent compared with the previous year, largely because of production in Siberia.
New technology to exploit "under-depleted production zones" in the Orenburg Oblast in southeast Russia, meanwhile, increased oil production by 6 percent, the company said.
Mikhail Fridman, the interim chief executive officer of TNK-BP, said 2009 was an "important" year for the venture, adding productivity and performance were "undeterred" by the sour economy.
"While the global economy may give rise to more business uncertainties in 2010, we will stay focused on developing our major projects which will secure future energy supply and clean high-quality oil products to our consumers," he said.
