BP plc · LSE:BP.
BP — CSFB Conference 2004
19 slides from BP's conference presentation, Jun 9, 2004
Slide 1: Strategy, new profit centres and cash returns
strategy, new profit centres and cash returns Ellis Armstrong Group Vice-President, BP 1
Slide 2: Forward-looking statements
This presentation and the associated slides and discussion contain statements, particularly those regarding acquisitions, availability, capacity, capital employed, capital expenditure, cash flows, costs, savings, debt, demand, depreciation, divestments, dividends, earnings, efficiency, gearing, grow
Slide 3: Production growth
production growth million boed TNK-BP 6 new profit centres production existing profit centres production 5 4 3 2 1 0 02 03 04 05 06 07 08 04-08 BP estimates 3
Slide 4: Strategy: basin lifecycle
strategy: basin lifecycle cumulative production reserves cashflow capex create build produce harvest 4
Slide 5: Reserves replacement
reserves replacement replacement ratio: extensions and discoveries average 98-02 reserves replacement ratio 1.4 200% BP 1.2 Total 150% 1.0 0.8 100% XOM 0.6 CVX 0.4 50% Shell 0.2 0 0% 0 1 2 3 4 94 95 96 97 98 99 00 01 02 03 F cost ($/boe) source: company reports 5
Slide 6: New profit centres
new profit centres mboed 2500 2000 1500 1000 500 0 2002 2003 2004 2005 2006 2007 2008 Azerbaijan GoM Deepwater Asia Pacific Trinidad Angola Asia Pacific & other source: BP projections 6
Slide 7: Gulf of Mexico Deepwater
Gulf of Mexico Deepwater Na Kika On Line Mardi Gras On Line Holstein End 2004 Mad Dog Early 2005 Thunder Horse 2005 Atlantis 2006 New Orleans Houston Na Kika (On Line) Na Kika Thunder 1,500’ Horse Holstein Atlantis Mad Dog Mardi Gras Pipelines Industry Pipelines Gas 0 N 100 Oil Miles source: BP proj
Slide 8: Gulf of Mexico Deepwater
Gulf of Mexico Deepwater Holstein (2004) Horn Mountain (2002) Na Kika On Line Mardi Gras On Line Holstein End 2004 Mad Dog Early 2005 Thunder Horse 2005 Atlantis 2006 Mad Dog (2005) source: BP projections 8
Slide 9: Gulf of Mexico Deepwater
Gulf of Mexico Deepwater Thunder Horse (2005) Atlantis (2006) Na Kika On Line Mardi Gras On Line Holstein End 2004 Mad Dog Early 2005 Thunder Horse 2005 Atlantis 2006 source: BP projections 9
Slide 10: Angola
Angola Xikomba On Line Kizomba A Late 2004 Kizomba B 2005/2006 Dalia 2006 Greater Plutonio 2007 Kizomba A Xikomba Kizomba B Block 15 Angola Block 31 Xikomba (On Line) Jasmim Girassol Dalia Block 17 Plutonio Block 18 source: BP data 10
Slide 11: Angola
Angola FPSO TLP Kizomba A (2004) Kizomba B (2005/2006) source: BP projections 11
Slide 12: Azerbaijan
Azerbaijan Oil Fields Caspian Sea Gas Fields Turkmenistan Prospects Baku BAKU BAKU Azerbaijan ACG ACG Azeri (ACG) 2005 Shah BTC Shah Deniz Deniz Shah Deniz 2006 BTC oil Pipeline 2005 100 kms 50 miles source: BP data source: BP projections 12
Slide 13: Azerbaijan
Azerbaijan Azeri (ACG) 2005 Shah Deniz 2006 BTC Pipeline 2005 13
Slide 14: Trinidad & Tobago
Trinidad & Tobago • 75% US LNG Supply • Train 4 Expansion Bilbao (late 2005) Boston Barcelona Cove Point Trinidad LNG Capacity Lake Charles 20 Dominican Republic 15 Trinidad Train 4 (est.) mtpa 10 Train 3 5 Train 2 Train 1 0 source: BP projections 14
Slide 15: Trinidad & Tobago
Trinidad & Tobago Train 2 August 2002 Train 4 Trains Train 3 April 2003 2 & 3 Train 1 site Train 4 End 2005/Early 2006 Train 4 End 2005/Early 2006 source: BP projections 15
Slide 16: Capturing the learning: the Projects Academy
capturing the learning. . . the Projects Academy • Joint Venture with MIT: − Sloan School of Management − School of Engineering − BP • 120 Major project leaders to attend • First Cadre graduated June 2004 16
Slide 17: New profit centres: cash returns
new profit centres: cash returns % mmboed % 80 3.0 40 2.5 60 2.0 40 1.5 20 1.0 20 0.5 0.0 0 0 02 03 04 05 06 07 08 production operating capital cash returns employed in service 17
Slide 18: Summary
Summary • leadership in key basins • world class resources • projects on track • leveraging scale to deliver capital efficiency • driving cash returns • options for growth beyond 2008 ….strategy delivering scale and quality 18
Slide 19: Strategy, new profit centres and cash returns
strategy, new profit centres and cash returns Ellis Armstrong Group Vice-President, BP 19