BP plc · LSE:BP.
BP — Tnk-Bp — Investor Presentation (2004)
8 slides from BP's investor presentation, Aug 8, 2004
Slide 1: TNK-BP update
Bob Dudley TNK-BP Update Robert Dudley CEO, TNK-BP TNK-BP update Thank you Tony. I am very happy to be here today speaking in the capacity of Chief Executive Officer, TNK-BP. 1
Slide 2: TNK-BP strategic priorities
TNK-BP Strategic Priorities TNK-BP strategic priorities z resources to reserves to production z margin enhancement z gas - longer term monetisation Within TNK-BP, we remain focused on the same three aspects of Strategic Implementation that we outlined in October: - First, the transition of resources
Slide 3: Resources to reserves to production
resources to reserves to production estimated resources 30.8bn boe estimated (bn boe) proved 35 reserves 01/01/03 SEC basis SPE basis PD 3.2 6.1 international 30 markets PD+PUD 4.1 9.4 infrastructure access 25 possible near infrastructure led 20 development Ryabchik probable 15 infill drilling field
Slide 4: Progress over the last 6 months in East Siberia and West Siberia
in East Siberia. These projects are for the long term and take us to the upper end of our current resource base at around 30 billion barrels of oil equivalent. Let me update you on progress over the last 6 months. Last year production grew by more than 150,000 bpd from these assets by the applicatio
Slide 5: Margin enhancement
Margin Enhancement margin enhancement z upgrading opportunities refinery yield enhancement z debottlenecking export options short term: rail and barge z high oil price environment tariffs, taxes Several projects are underway to optimise our margins on our exported crude and products. Exports, of cou
Slide 6: TNK-BP: production and capex
working to offset these by bringing through a set of synergy projects, and higher production. As we had planned, our effective tax rate will be higher this year, than 2003. TNK-BP is fully compliant with all applicable tax regulations, and reflecting the already-implemented legislation changes, our
Slide 7: TNK-BP summary
going out to 2007. We expect oil production rates this year to grow by about 12% over 2003 and continue growing at around 7% thereafter through 2007. We see associated gas sales growing at similar rates and have substantial upside potential in our large gas projects where we are working to access mu
Slide 8: Slavneft transaction closed
Furthermore, we closed the Slavneft transaction on 16th Jan 2004, bringing even more opportunity into TNK BP via this equity investment. This company is building a foundation for increased performance and increased value – aimed at building the best oil company operating in Russia. 8