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Reuters: Russia may strip TNK-BP of Kovykta before June

Mon May 21, 2007 11:49 AM BST

MOSCOW, May 21 (Reuters) – BP’s (BP.L: Quote, Profile , Research) Russian vehicle TNK-BP may lose its rights to develop the giant East Siberian Kovykta gas field before June, Russia’s environmental agency said on Monday two days before its starts a final inspection.

“The inspection will take a couple of days and we will check only one thing – whether they comply with production obligations. The results of the inspection seem obvious to me,” Deputy Head of the agency Oleg Mitvol told Reuters.

“Then the documents will go to (licence regulator) Rosnedra and be put in for the next commission on licence withdrawal. So it (licence withdrawal) could happen before June,” he said.

© Reuters 2007. All Rights Reserved

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