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Russia's TNK-BP says looks into US shale oil

Wed, 20th Feb 2013 07:48

MOSCOW, Feb 20 (Reuters) - Russia's third-largest crudeproducer TNK-BP, due to be taken over by state oilcompany Rosneft in the coming months, wants to enterthe U.S. shale business, its head of international projects saidon Wednesday.

TNK-BP Senior Vice President Boris Zilbermints said thecompany was seeking to gain knowledge of technological processesused to extract oil from shale in the United States forapplication in western Siberia's "tight" formations.

"It is not just learning how to do multistage fracks but tosee the process," Zilbermints told a press conference. "It's aconveyer belt process in the United States... we are looking foraccess to knowledge of this process."

Zilbermints said his team was not yet in contact withRosneft on integration, which also has an internationalportfolio.

"When the process of acquisition is complete the process ofintegration will begin," he said.

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