"A vote of confidence..."
"A landmark event that puts Russia onto a new
stage..."
"A pivotal event that could open the floodgates to
further investment across the economic spectrum..."
"The largest single direct investment in Russia's
post-Soviet history..."
From the Wall Street Journal to the most
respected analysts and economists, these are but a few
of the commentaries on the February 11th announcement
that BP was making a new $6.75 billion commitment to
Russia - an amount equal to the total foreign direct
investment in Russia in the past three years.
BP's decision to take a 50 percent stake in a new
Russian oil company, which is called TNK-BP, changed
almost overnight the global perception of Russia's
investment climate, as well as the structure of its huge
oil and gas sector.
Within days of the announcement, the Russian stock
exchange spiked 10 percent and the country's sovereign
bonds reached record highs. Stocks of other Russian oil
companies also rose 5.2 percent.
The impact of the TNK-BP decision can be seen in this
week's announcement of another major Russian oil merger.
Yukos and Sibneft announced that they have agreed in
principle to combine the two businesses and create one
of the world's biggest oil concerns.
The PBN Company was chosen to help BP and its
partners in the venture, the Alfa Group and
Access-Renova (AAR), manage this landmark historic
announcement. We handled all media activities in Russia,
including the press conference to announce the deal and
one-on-one media interviews.
"The PBN Company's relationship with BP dates
back to 15 years ago," says PBN Chairman and CEO Peter
B. Necarsulmer. "Our assignments have ranged from
managing oil spills off the California coast to helping
BP protect its first investments in Russia."
PBN is now working with BP, AAR, TNK and SIDANCO to
assist in the integration and creation of TNK-BP, which
will be Russia's third largest oil company. We have
already developed, launched and now manage "TNK-BP
Inform," the extranet site for the integration team to
help keep the more than 100,000 affected employees of
BP, TNK and SIDANCO in Russia up-to-date on the creation
of TNK-BP.
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