TNK-BP gets hold of billion-worth contracts

12 Dec, 2007 10:53 / Updated 16 years ago

TNK-BP has awarded $US 3 billion of long-term contracts for drilling and well repair services.

It will keep a third of the business in-house. The firm's own subsidiaries won tenders worth a billion dollars. The deal is Russia's biggest long-term rig deal, with a term of three to five years.