Russian state-controlled oil giant Rosneft will produce 5% of the global oil output after acquiring all of TNK-BP, Rosneft CEO Igor Sechin said on Tuesday.

"Oil production will rise from 2.4 million barrels per day to 4.1 million bpd and overall output (of hydrocarbons) will grow to 4.6 million barrels (of oil equivalent) per day from the current 2.6 million bpd," Sechin said in a conference call with investors, as cited by Russian media.

On Monday, Rosneft announced landmark deals to buy 100% of TNK-BP from British oil major BP and the AAR consortium of Russian billionaire shareholders.

Under the terms of the deals, BP will receive USD 17.1 B in cash for its 50% stake plus stock representing 12.84% of Rosneft's shares while the AAR consortium of Soviet-born billionaire shareholders will sell its 50% stake in the joint venture "for cash consideration of USD 28 B."

BP also intends to use USD 4.8 B of the cash consideration to acquire a further 5.66% stake in Rosneft from the Russian government. BP would acquire the Rosneft shares from the Russian government at a price of USD 8 per share (representing a premium of 12% to the Rosneft share closing price on the bid date: 18 October 2012), the British oil giant said in a statement.

Therefore, after the proposed transaction is completed, BP will acquire a total 18.5% stake in Rosneft and net USD 12.3 B in cash.

"This would result in BP holding 19.75% of Rosneft stock, when aggregated with BP's 1.25% current holding in Rosneft."