BP plc · LSE:BP.
BP — Lehman Brothers CEO Energy/Power Conference 2008
17 slides from BP's conference presentation, Sep 2, 2008
Slide 1: Andy Inglis, Lehman Brothers CEO Energy/Power Conference
Andy Inglis Chief Executive of Exploration and Production Lehman Brothers CEO Energy/Power Conference 2nd September 2008 © BP 2006
Slide 2: Historic oil price and long-run GDP growth
Historic oil price and long-run GDP growth GDP growth 100 90 Forecasts $ Money of the day Non-OECD 80 8% 70 6% 60 50 4% 40 2% 30 OECD 20 0% $ 2007 10 -2% 0 1992 1995 1999 2002 2005 2008 2011 2014 2017 2020 1967 1972 1977 1982 1987 1992 1997 2002 2007 SOURCE: BP 2007 Statistical Review of World Energ
Slide 3: Global energy demand
Global energy demand Mtoes OECD/ Non OECD Energy Type 20000 Other Renewables Non OECD 18000 Hydro OECD Biomass & Waste 16000 Nuclear 14000 Gas Oil 12000 Coal 10000 8000 6000 4000 2000 0 1990 2005 2015 2030 1990 2005 2015 2030 Source: IEA WEO 2007
Slide 4: Total proved reserves
Total proved reserves Total Proved Reserves (billion barrels equivalent) 1400 Gas 1200 Oil 1000 800 600 400 200 0 North Asia Pacific S. & Cent. Africa Europe & Middle East America America Eurasia SOURCE: BP 2007 Statistical Review of World Energy
Slide 5: Role of the IOC
Role of the IOC o Operate at the frontiers o Undertaking risks others wouldn’t o Integration of technical knowledge and experience, not easily replicated o Large scale project management expertise
Slide 6: BP – historic production
BP – historic production Total Net Production mboed 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 1947 1952 1957 1962 1967 1972 1977 1982 1987 1992 1997 2002 2007 Middle East N. America Europe CLA FSU Deepwater AsPac Afica N. Africa CLA = Caribbean and Latin America
Slide 7: The ultimate prize
The ultimate prize 200 bn boe oil bn boe and gas initially Produced in place 39 Proved Pre-project Sanction 18 Non-proved 12 Currently unrecoverable hydrocarbon 30 Does not include exploration potential
Slide 8: Technology focus areas: Converting resources to reserves
Technology focus areas Converting resources to reserves Each has potential to deliver >1bn boe increase in reserves 1. North America Unconventional Gas 2. Alaska Heavy Oil 3. Gulf of Mexico Palaeogene 4. Advanced Seismic Imaging 5. Beyond Sand Control 6. Pushing Reservoir Limits 7. Subsea Reserves P
Slide 9: Advanced seismic imaging - Offshore
Advanced seismic imaging - Offshore GoM Egypt Nile Delta GoM Wide Azimuth Towed Streamer (WATS) Multi-Azimuth (MAZ) Ocean Bottom Nodes • Preferred approach for • Robust, simple, uses • Wide azimuth in subsalt imaging at scale existing equipment cluttered surface (GoM, Angola) environments (GoM, • Mo
Slide 10: Advanced seismic imaging - Onshore
Advanced seismic imaging - Onshore Algeria North America Gas Independent Simultaneous Sources (ISS) Cableless Seismic Conventional ISS BEFORE AFTER • Increase efficiency of land 3D seismic • Enhance data quality through increased acquisition source effort by factor of 5 sampling • Reduce cost per st
Slide 11: North America Gas - unconventional
North America Gas - unconventional PROD. % PROD. BCF/d 100% 50 Shale 90% 80% CBM 40 70% 60% 30 Conventional Tight 50% 40% 20 Tight Gas 30% Shale – ’08 Conventional updated view 20% 10 CBM 10% Shale – 2007 EIA outlook 0 0% 1990 1995 2000 2005 2010 2015 2020 1990 1995 2000 2005 2010 2015 2020 CBM = Co
Slide 12: North America Gas - BP's shale position
Tier 1 Shale Plays in the US North America Gas - BP’s shale position Tulsa Oklahoma City Fayetteville Woodford Dallas Haynesville Shreveport Houston
Slide 13: Field of the Future: Real time field management delivered
FieldoftheFuture® Real time field management delivered Coverage 2007 Delivery • 1.5 mmboe/d • 40+ assets • > 30 mboed production • 700 wells • 100 mmboe recovery • Capex & Opex savings Infrastructure Advanced Collaboration • 1.5million data tags Environment • > 35 assets with collaborative environme
Slide 14: Thunder Horse: Pushing the technology envelope
Thunder Horse: Pushing the technology envelope Commissioning Achieved 45 ft 15K psi Subsea trees HPHT Riser flex joints Vertical Subsea Tree - 15 ksi Brow n Pre-Drill 822-4 ST-01 Tree - 8630 Steel Inlaid Flow -W etted w /I-625 Um bilical Jum per • Commissioning underway - June 14th Tubing Hanger I-7
Slide 15: Production Guidance
Production Guidance: 9’08 – Major Projects are on track 9Continue to gain new access opportunities 92008 Growth versus 2007 92009 Above 4.0 mmboed* 92012 Around 4.3 mmboed* 92020 Sustain production above 4.0 mmboed* * Projections based on current portfolio at $60/bbl
Slide 16: Conclusion: A sustainable Future
Conclusion: A sustainable Future • Continued success in focused exploration and access strategy – Resource base continues to grow – 14 year track record of reporting 100+% reserve replacement • Sustainable production out to 2020 – Application of technology to move resources to reserves – Excellence
Slide 17: Andy Inglis
Andy Inglis Chief Executive of Exploration and Production Lehman Brothers CEO Energy/Power Conference 2nd September 2008 © BP 2006
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