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    BP head surprised, not worried by TNK-BP suit over Rosneft deal

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    British oil giant BP is not afraid of the judicial proceedings launched by its Russian partners in TNK-BP and would have no objection to the joint venture taking part in projects with BP and Rosneft, CEO Bob Dudley said on Tuesday.

    British oil giant BP is not afraid of the judicial proceedings launched by its Russian partners in TNK-BP and would have no objection to the joint venture taking part in projects with BP and Rosneft, CEO Bob Dudley said on Tuesday.

    BP and Rosneft agreed a $16 billion share swap deal on January 14 in which Rosneft exchanged 9.5 percent of its stock for 5 percent in BP. The two firms also agreed to jointly undertake exploration and production projects on the Russian Arctic shelf.

    AAR, the holding representing the Russian shareholders in TNK-BP, claim the Rosneft-BP tie-up goes against their interests and have initiated a court action in London to have the agreement annulled.

    "I was a little surprised [with the injunction served by AAR to prevent the Rosneft alliance]...but I believe that it will be resolved in a businesslike manner. We are happy to go to arbitration," BP head Dudley said.

    BP will in the future strive to form new national partnerships, future "Rosnefts," in other countries, but at the moment there are no specific partners in mind, Dudley said.

    LONDON, February 1 (RIA Novosti)

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