Financial Times FT.com

BP under pressure over Kovykta field

By Catherine Belton in Moscow

Published: February 28 2007 02:00 | Last updated: February 28 2007 02:00

Russia stepped up pressure on a key asset held by TNK-BP, BP's Russia venture, yesterday as Lord Browne, BP chief executive, arrived in Moscow for talks and the end-game neared for apossible transfer of part of a key asset to the state.

Oleg Mitvol, the official who led the state campaign against Shell's oil and gas venture in Sakhalin2, said yesterday that Russia's Natural Resources Ministry would not budge on threats to revoke TNK-BP's licence to develop its vast east Siberian Kovykta gas field in three months time.

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