BP plc · LSE:BP.
BP — Investor Presentation (February 2001)
20 slides from BP's investor presentation, February 2001
Slide 1: Upstream
Upstream Reserves Production Production Costs Cost Environment Capital 1
Slide 2: Upstream Production
Upstream Production July ’00 4 - 5% oil p.a. 8 - 10% gas p.a. Mix changes 5.5 - 7% p.a. oil equivalent 2
Slide 3: Upstream Production
Upstream Production Production mboed 5000 7% 5.5% 4000 3000 2000 0 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 Base New Projects Like for Like adjustment 3 Source: BP Data
Slide 4: Upstream Production Cost
Upstream Production Cost Production Cost ($/boe) 4 3 Bas e 2 Tot al 1 Growt h 0 '9 '9 '0 '0 '0 '0 '0 '0 8 9 0 1 2 3 4 5 4 Source: BP Data
Slide 5: Upstream F & D Cost
Upstream F & D Cost ($/boe*) 6 4 $3.50/boe 2 0 '9 '9 '0 8 9 0 *Reported 5 Source: BP Data
Slide 6: Upstream
Upstream Base Production Costs Growth Production Costs 6
Slide 7: Production and Cost History
Production and Cost History Production (mboe/d) Capex ($m) Production Cost ($/boe) 350 1600 4 0 0 Like for Like 1400 basis 0 1200 3 0 300 0 1000 0 800 2 0 600 250 0 0 400 1 0 200 0 200 0 0 0 '9 '9 '9 '9 '0 '9 '9 '0 6 7 8 9 0 8 9 0 Reported production Like for Like adjustment Like for Like 7 Source:
Slide 8: Production Base
Production Base Production (mboe/d)* 2001 Base Activity 400 0 300 Well work 0 Other Satellites 200 North Sea 0 Technology Infills 100 North America 0 0 '9 '9 '9 '9 '0 '0 '0 '0 '0 '0 6 7 8Like 9for Like 0 1 2 3 4 5 adjustment *Actual and forecast production excl. new project start ups 8 Source: BP Da
Slide 9: North American Gas Supply
North American Gas Supply Mackenzie Delta Alaska Canada East Coast Canada Wyoming Mid-Continent San Juan Permian Gulf Coast Gulf Coast South Texas Gulf of Mexico Trinidad 9
Slide 10: North American Gas
North American Gas Production (bcf/d) Production Cost ($/boe) 6 4 5 3 4 3 2 2 1 1 0 0 '9 '9 '0 '0 '0 '0 '0 '0 '9 '9 '0 '0 '0 '0 '0 '0 8 9 0 1 2 3 4 5 8 9 0 1 2 3 4 5 North America Base Like for Like GoM DW New Projects adjustment Source: BP Data 10
Slide 11: North Sea
North Sea Production (mboe/d) Production Cost ($/boe) 120 4 0 100 0 3 80 0 60 2 0 40 0 1 20 0 0 0 '9 '9 '0 '0 '0 '0 '0 '0 '9 '9 '0 '0 '0 '0 '0 '0 8 9 0 1 2 3 4 5 8 9 0 1 2 3 4 5 Base Like for Like New Projects adjustment Source: BP Data 11
Slide 12: Base Summary
Base Summary Production (mboe/d) 400 0 Production 300 Steady 0 Other Activity 200 0 North Sea Production costs Down 3% p.a. 100 North America 0 0 '9 '9 '9 '9 '0 '0 '0 '0 '0 '0 6 7 8 9 0 1 2 3 4 5 Like for Like adjustment 12
Slide 13: New Projects
New Projects No exploration required No technology step-out Northstar All teams in place Alligin Shearwater Rhum Tambar Skarv Clair Atlantis Devenick Princess Crazy Horse Kessog Na Kika Horn Mtn King’s Peak ACG King Shah Deniz In Salah Mad Dog Trin. Holstein Atlas Methanol Karous/Temsah Europa Ha’py
Slide 14: New Project Production
New Project Production Production (mboed) 140 0 120 0 100 0 80 0 60 0 40 0 20 0 0 '9 '0 '0 '0 '0 '0 '0 9 0 1 2 3 4 5 RoW North Sea / Alaska Trinidad Deepwater 14 Source: BP Data
Slide 15: Gulf of Mexico Deepwater
Gulf of Mexico Deepwater Base New Projects Ram Powell Nile Marlin Horn Pompano Mtn King Mica King’s Peak Amberjack Ursa Na Kika Mars Crazy Horse Europa Crosby Troika Holstein Atlantis Mad Dog 15
Slide 16: Gulf of Mexico Deepwater
Gulf of Mexico Deepwater Production (mboe/d) Est. net Discovered Resources - 3.5bn boe 60 0 Othe Producing r Reserve 40 0 s Crosby / Mica/ Nile King Crazy / King's Peak 20 Horse/ 0 Na Atlanti Kika/ Horn s Mtn Holstein / ad Dog M 0 '9 '9 '0 '0 '0 '0 '0 '0 8 9 0 1 2 3 4 5 Base New Projects 16 Source:
Slide 17: Gulf of Mexico Deepwater
Gulf of Mexico Deepwater Capital Expenditure ($/boe) 8 Indust 7 Deepwater ry Under development (Industry) B 6 P Under development (BP) 5 4 3 2 1 0 0 100 200 300 400 500 600 700 0 0 0 depth,0feet Water 0 0 0 Sources: WoodMac Global Deepwater Study; Pathfinder Database and BP 17
Slide 18: Beyond 2005
Beyond 2005 Gas Oil Major projects Alaska Gas North Sea Caspian Kovytka GoM Trinidad Tangguh Angola Growth Caspian (from New Projects) Alaskan Gas Exploration Asia Pacific Gas 18
Slide 19: Exploration
Exploration Discoveries (bn boe) Exploration Expense ($bn) 3 1. 6 1. 2 2 0. 8 1 0. 4 0 0 '9 '9 '0 '9 '9 '0 8 9 0 8 9 0 Note: BP Amoco + ARCO 19 Source: BP Data
Slide 20: Future Outlook
Future Outlook Production (mboed) Production Cost ($/boe) 5000 7% 4 5.5% 4000 3 Bas e 3000 2 Tot al 2000 1 Growt h 0 0 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '9 '9 '0 '0 '0 '0 '0 '0 8 9 0 1 2 3 4 5 Base New Projects Like for Like adjustment Source: BP Data 20 Source: BP Data