BP plc · LSE:BP.
BP — Investor Day (2018)
12 slides from BP's investor day presentation, 2018
Slide 1: Advantaged oil portfolio and growth
Track record Advantaged oil portfolio and growth Murray Auchincloss CFO, Upstream Starlee Sykes Regional President, Gulf of Mexico and Canada BP UPSTREAM INVESTOR DAY AND FIELDTRIP
Slide 2: Oil growth underpinned
Oil growth underpinned Gulf of Mexico North Sea Thunder Horse Mad Dog Atlantis Na Kika Operated by others Shetland Central North Sea Aker BP Operated by others E&A options E&A options 500 mboed 300 mboed 0 0 2010 2015 2020 2025 2010 2015 2020 2025 Angola Azerbaijan oil Block 18 Block 31 Operated by
Slide 3: Gulf of Mexico – safely growing a high margin business
Gulf of Mexico – safely growing a high margin business ▪ Safety and environment – core value ▪ Top producer in the Gulf of Mexico Houston ▪ High quality assets with room to grow Mars Na Kika Thunder Horse Olympus Ursa ▪ Track record of cost and capital Constitution Atlantis Tigris efficient delivery
Slide 4: Gulf of Mexico - building a competitive business
Gulf of Mexico - building a competitive business Production Plant reliability1 Unit production costs Capital efficiency example mboed % $/boe $m 400 100 10% 20 120 >60% >60% >40% 0 0 0 0 2013 2018 2013 2018 2013 2018 2014 Thunder 2018 Thunder est est est Horse well Horse well (1) BP-operated plant r
Slide 5: Mad Dog – developing a Miocene giant
Mad Dog – developing a Miocene giant Production 2.7bn boe Net estimated HCIIP1 125mboed >3x 4% Recovered2 0 2013 2017 2021 2025 Future options ▪ North West Water Injection ▪ New hub: Mad Dog 2 - Argos ▪ Strong capital efficiency ▪ South West Expansion ▪ up to 140 mboed oil ▪ Technology driven growth
Slide 6: Atlantis – field within a field
Atlantis – field within a field Production 1.7bn boe Net estimated HCIIP1 ILX 25% 75mboed 11% Recovered2 0 2013 2017 2021 2025 Future options ▪ Phase 3 (new field) ▪ Infrastructure Led Exploration ▪ Technology driven growth – 4D Ocean (ILX) opportunities ▪ Phase 4 & 5 (new horizon) Bottom Nodes (OBN
Slide 7: Thunder Horse – maintaining cash engine at full capacity
Thunder Horse – maintaining cash engine at full capacity Production 2.9bn boe Net estimated HCIIP1 ILX 125mboed 10% Recovered2 0 2013 2017 2021 2025 Future options ▪ South drill-out ▪ South Shallow (new field) ▪ Sustain production through system optimisation and innovative well ▪ Water Injection Exp
Slide 8: Na Kika – renewing a high profitability hub
Na Kika – renewing a high profitability hub Production 0.7bn boe Net estimated HCIIP1 ILX 29% Recovered2 75mboed >2x 0 2013 2017 2021 2025 Future options ▪ Isabela & Ariel Infill ▪ Additional ILX opportunities ▪ Agile working techniques, ILX and new well ▪ Manuel Development design unlocking value ▪
Slide 9: Angola – decline but increasing potential
Angola – decline but increasing potential Production Offshore plant reliability1 Unit production costs mboed % $/boe 100 15 DR CONGO Block 31 Block 15 Block 17 Block 18 ANGOLA Block 20 0 0 2013 2018 2013 2018 est est (1) BP-operated plant reliability BP UPSTREAM INVESTOR DAY AND FIELDTRIP 9
Slide 10: Azerbaijan – sustaining a material business with significant exploration opportunity
Azerbaijan – sustaining a material business with significant exploration opportunity Production Offshore plant reliability1 Unit production costs mboed % $/boe Base New projects 100 10 Exploration options 100 D230 >30% AZERBAIJAN ACG SWAP Gobustan Shah Deniz Shafaq Asiman 0 0 0 2018 2025 2013 2018 2
Slide 11: North Sea – back to growth
North Sea – back to growth Production Offshore plant reliability1 Unit production costs mboed % $/boe Base New projects 100 30 Aker BP Exploration options 300 >10% ~50% Clair Ridge ~50% Foinaven Clair Schiehallion Andrew ETAP Culzean Shearwater UK Operated Non-operated 0 0 0 2018 2025 2013 2018 2013
Slide 12: Intentionally blank
Intentionally blank BP UPSTREAM INVESTOR DAY AND FIELDTRIP 12