BP Welcomes TNK-BP CEOs Temporary Visa Extension
Release date: 18 July 2008
BP welcomes the temporary extension of TNK-BP Chief Executive Bob Dudley’s current work visa, following a constructive meeting at the Federal Migration Service earlier today.
BP executive vice president Lamar McKay said: "Bob Dudley has a valid employment contract and is therefore entitled under Russian law to a renewal of his work visa. Therefore we remain confident that, if the laws are properly applied, he will be given a new work visa."
Leading Russian law firm Egorov, Puginsky, Afanasiev & Partners, which BP has retained to advise on matters related to the current TNK-BP shareholder dispute, including the associated issues impacting the TNK-BP joint venture, has issued an opinion which fully supports the view that Mr. Dudley’s employment contract is valid, and that he is therefore entitled by law to receive a new work visa.
It confirms that under Russian law fixed-term employment contracts automatically become open-ended upon expiry of the original terms, unless there is a specific order to terminate. Since there has been no specific decision by Mr Dudley’s employer to terminate his contract, and he continues to perform his duties, his employment contract remains valid.
Further enquiries:
BP Moscow, + 7495 363 6262
BP press office, London +44 (0) 20 7496 4076
BP P.L.C-BP P.L.C-07/18/2008
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