BP plc · LSE:BP.
BP — Investor Presentation (February 2010)
14 slides from BP's investor presentation, Feb 9, 2010
Slide 1: Canadian Oil Sands
Canadian Oil Sands Anne Drinkwater - 9th February 2010
Slide 2: Cautionary Statement
Cautionary Statement Forward Looking Statements - Cautionary Statement This presentation and the associated slides and discussion contain forward looking statements, particularly those regarding global energy demand and production; expected future energy mix; decline in mature fields and expected fu
Slide 3: Canada's oil sands represent a significant, proven and secure source of supply
Canada’s oil sands represent a significant, proven and secure source of supply for North America… • Canada’s oil sands are one of the largest known reserves of oil; second only to Saudi Arabia. • Canada is the largest supplier of crude oil and petroleum products to the U.S. Oil Reserves bn bbl 300 2
Slide 4: About 80% of the oil sands is too deep to be mined
About 80% of the oil sands is too deep to be mined and is being recovered using in situ processes… Sunrise Kirby Athabasca oil sands boundary Minable boundary Major highways Industry leases Source: CAPP/BP
Slide 5: In situ accounts for about 45% of current oil sands production
In situ accounts for about 45% of current oil sands production. SAGD has emerged as the dominant in situ recovery technique… SAGD Schematic SAGD Well Pad Source: Husky (Tucker SAGD Project) Steam Assisted Gravity Drainage Typical SAGD Process Facilities (SAGD) • Horizontal producer well located near
Slide 6: BP is pursuing in situ, as it plays to our strengths
BP is pursuing in situ, as it plays to our strengths and has strong leverage to technology… • In situ plays to BP’s strengths, particularly expertise in improving large scale reservoir performance • Since the introduction of SAGD, technology has improved efficiency − Improved well start-up technique
Slide 7: An integrated approach allows BP to capture margins across the value chain
An integrated approach allows BP to capture margins across the value chain… Production Refining Dilbit (bitumen and diluent) Diluent Bitumen is blended with diluent to allow it to be shipped by pipeline to the refinery. An integrated approach allows BP to capture margins across the full value chain
Slide 8: BP is building an integrated position in the oil sands, with priority on Sunrise
BP is building an integrated position in the oil sands, with priority on Sunrise… Sunrise • Resource >3 bn bbls • Status Sanction late 2010 • Production potential2 >200 mbd • Timing 2014 first oil Ft McKay Sunrise Fort McMurray Athabasca oil sands boundary Minable boundary Major highways Gravel road
Slide 9: On wells to wheels basis, GHG emissions comparable to other crudes
On “wells to wheels” basis, GHG emissions from oil sands are comparable to other crudes consumed in U.S…. • Wells-to-wheels analysis measures GHG emissions from production through to consumption Common U.S. U.S. Oil Sands Conventional Oil Imports Domestic 120 114 116 108 Range of Common 100 106 104
Slide 10: Continuous improvement to energy efficiency is key to reducing GHG emissions
Continuous improvement to energy efficiency is key to reducing GHG emissions… • Full value chain integration avoids additional GHG emissions associated with upgrading prior to shipment to refinery • Examples of Reservoir management − Selection of high quality reservoir − Optimizing placement of well
Slide 11: Water plays an important role in SAGD projects
Water plays an important role in SAGD projects and will be used responsibly at Sunrise… Steam generation 100% • No surface water withdrawals • >90% water recycle rate • Evaluating emerging water treating technologies for future phases Source: Husky (Tucker SAGD Project) Water Recycle Reservoir 98% <
Slide 12: Sunrise is being designed to minimize impact on the ecosystem
Sunrise is being designed to minimize impact on the ecosystem, animal corridors and sensitive areas… • Over the project’s life, the planned total physical footprint of Sunrise will be about 5% of the lease area − At any given time, actual project surface disturbance should not exceed 3% • Initiative
Slide 13: Local relationships supported by early and ongoing consultation by Husky
Local relationships supported by early and ongoing consultation by Husky as operator… Fort Chipewyan • Husky has been proactive in building relationships with local stakeholder including First Nations and Métis groups • Working to facilitate meaningful business and economic benefits with local stake
Slide 14: Development of Canadian oil sands is aligned to BP's strategy
Development of Canadian oil sands is aligned to BP’s strategy • Aligned to Upstream growth strategy….. − Competitive source of renewal; − Leverages BP’s reputation and capability in ‘frontier’ technology development; − Value from linkage to BP’s Integrated Fuel Value Chain. • …delivered with BP’s co