Anglo-Russian oil company OAO TNK-BP Holdings (TNBP.RS) expects 2008 crude output to remain at last year's level and plans to increase output in 2009, the Interfax news agency said Wednesday, citing a company official.
Previously the company said it expected a fall in production of 1% in 2008.
Last year, TNK-BP produced 510 million barrels of oil, or around 1.4 million barrels a day.
Sergei Brezitsky, deputy head of production at TNK-BP, said the increase in 2009 will come on the back of new project launches and the utilization of associated gas. The company will elaborate on its growth forecast in September, Interfax reported.
Brezitsky also said the company doesn't expect a decline in output from its fields in the Orenburg region during the next five years. TNK-BP currently produces more than 341,000 barrels a day at its fields in Orenburg.