CEO Of TNK-BP Uncertain If E. Siberian Fields Can Make Up For Faltering W. Siberian Output - Reuters

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LONDON, Oct 30 (Reuters) - Lack of exploration in new East Siberian oil fields means it is unclear to what extent that region can make up for declines in West Siberian production, the boss of one of Russia's biggest companies said on Tuesday. "It remains to be seen," Bob Dudley, Chief Executive of TNK-BP (TNBPI.RTS: Quote, Profile , Research), told reporters on the sidelines of the Oil and Money conference in London.

Although many in the Russian oil industry were betting on the region to avert a future drop in Russian output, Dudley said work was being done on only two significant fields. "Exploration has hardly begun beyond those two fields," he said. TNK-BP, which is 50 percent owned by London-based oil major BP Plc (BP.L: Quote, Profile , Research), is exploring one of the fields, and Russian oil company Surgutneftegaz (SNGS.MM: Quote, Profile , Research) is working on the other, Dudley said.

The TNK CEO added there were plans to build a pipeline in the region but that it was unclear whether there would be enough oil to fill it. "It looks like the infrastructure will be there, but the exploration is very slow."

However, he added he thought the decline in West Siberian production would be gradual. Dudley said he expected TNK-BP's production to be stagnant to 2009, but that in that year new fields would come onstream allowing output to pick up.

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