BP plc · LSE:BP.
BP — Conference Presentation (October 2005)
12 slides from BP's conference presentation, October 2005
Slide 1: The Role of a Super-Major in the Future of the U.K. North Sea
The Role of a Super-Major in the Future of the U.K. North Sea Tony Hayward Executive Vice President – Group Treasurer
Slide 2: Agenda
Agenda • History and Outlook for the Industry • BP’s Position • Managing Decline • Global Competitiveness
Slide 3: Production (mboed)
Production (mboed) 0 1000 2000 3000 4000 5000 1970 1975 History 1980 Production outlook Future 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030
Slide 4: BP at a Turning Point
BP at a Turning Point 1000 Options Production (mboed) * 800 Base 600 400 200 0 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 * actual/forecast production
Slide 5: BP's Resources: Opportunities and Challenges
BP’s Resources: Opportunities and Challenges Beyond Technical Limits Developed and (1bn boe) Producing (2bn boe) Marginal Development s (1bn boe) Quality Developmen ts (1bn boe) UK North Sea
Slide 6: Managing Decline
Managing Decline • Technology • Commercial Innovation • Business Processes • Global Competitiveness
Slide 7: Technology
Technology • Brownfields - 4D seismic - TTRD - EOR •Satellite tiebacks -Mirren, Madoes (ETAP satellites) -Rhum (long distance HP SS tieback) •New developments - Clair
Slide 8: Commercial Innovation
Commercial Innovation Portfolio Rationalisation New commercial models 250 Fallow Blocks held at end of year * • MAST 200 • ETAP 150 • Magnus EOR • Satellite accelerator (Don) 100 • Interim farm-outs (Thistle) 50 0 1998 1999 2000 2001 2002 * Actual/forecast blocks held
Slide 9: Business Processes – the way we do business
Business Processes – the way we do business • >80% UK content in our 3rd party spend • Small to Medium Size Enterprises - SMEs: A key source of innovation • Working with the Government
Slide 10: Role of the Super-Major
Role of the Super-Major • Scale and stability • Global perspectives • Stimulating new ideas • Leadership
Slide 11: Fiscal Changes - the Budget Impact
Fiscal Changes - the Budget Impact • Historic stability encouraged investment and growth • New regime takes £8bn “out of the industry” through 2010 • Investment, employment and production negatively affected • Action needed to: – Restore investor confidence – Ensure North Sea competitiveness – Aboli
Slide 12: Managing Decline
Managing Decline • Technology • Commercial Innovation • Business Processes • Global Competitiveness