TNK-BP is Russia’s third largest oil company; it is 50% held by BP and 50% by the AAR Consortium (Alfa Group, Access Industries and Renova). TNK-BP also owns close to 50% of another Russian oil and gas company, Slavneft. It accounts for approximately 16% of Russia’s production (including its share of Slavneft). SEC proven reserves (life of field basis) were 8.586 billion boe as of December 31, 2009.