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    RUSSIAN-BRITISH CONCERN BUYS 50 PERCENT OF SLAVNEFT SHARES

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    MOSCOW, January 19 (RIA Novosti) - The official web site of the British Petroleum Company announced the conclusion of the deal with Alpha-Group and Access-Renova on the inclusion of 50 percent of shares of the Russian company Slavneft to the joint Russian-British concern TNK-BP (the Tyumen Oil Company and British Petroleum).

    Alpha-Group and Access-Renova received 1.4 billion dollars from BP for the sale of these assets.

    TNK-BP and Sibneft, another chief shareholder of Slavneft, continue cooperation in the framework of the agreement on the division of Slavneft assets.

    On June 26, 2003 TNK and BP announced the juridical end of the merger. Alpha-Group, Access-Renova and BP signed the main agreement on the formation of the TNK-BP company.

    The new company was registered on the Virgin Islands (Great Britain). The TNK-BP capitalization totals some 16 billion dollars. The volume of proved oil reserves is about 9.488 billion barrels.

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