Capex Data
Group capital spending is expected to increase from some $19 billion in 2007 to between $21 billion and $22 billion in 2008 and, assuming a $60 price per barrel going forward, BP production would be over four million barrels of oil equivalent a day in 2009, rising to some 4.3 million barrels a day in 2012.
Future Plans
Oil and gas production is expected to increase by an average of 5per cent a year - not counting the contribution from its Russian joint venture - from 2003 to 2008. In 2003, BP paid nearly $US8 billion to create the TNK-BP joint venture in Russia.
With output from TNK-BP included, output is expected to grow, on average, by 7per cent a year through 2008.