U.K. oil major BP PLC (BP) will pursue future investments in Russia solely through its TNK-BP Ltd. joint venture, the company's Chief Executive Bob Dudley said Monday.

"We will work only through TNK-BP," Dudley said, when asked about future investments in Russia .

He said his company remains "rock steady" on its investment in TNK-BP, which it owns on a 50-50 basis with a group of Russian businessmen.

Earlier this year, its partners in TNK-BP forced BP to give up an Arctic exploration project and share swap deal with Russian state oil company OAO Rosneft (ROSN.RS). A London court agreed with their argument that the deal would violate the TNK-BP shareholder agreement and that all investments in Russia must be pursued through TNK-BP.
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