BP

Printable company profile from OilVoice

Address
1 St James's Square
London, SW1Y 4PD
UK
Tel +44 (0)20 7496 4000
Fax +44 (0)20 7496 4630
Web http://www.bp.com

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Capex

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.

Production

In 2007, BP produced 3,818 Mboepd compared with 3,926 Mboepd in 2006.

Reserves

The company added 2.4 billion barrels to resources in 2007, boosting the resource base to 42.1 billion barrels. This combined with year-end reserves of 17.8 billion barrels, took resources plus reserves to 60 billion barrels, extending the life of BP's production from 41 to 43 years at current rates.

Who's Who

Tony Hayward
Group Chief Executive Designate
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Iain Conn
Executive Director of the BP Group
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Byron Grote
Chief Financial Officer
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Andrew Inglis
Managing Director of the BP Group and Chief Executive of Exploration & Production
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P D Sutherland, KCMG
Chairman
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Sir Ian Prosser
Non-Executive Deputy Chairman
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J H Bryan
Non-Executive Director
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Antony Burgmans
Non-Executive Director
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Sir William Castell, LVO
Non-Executive Director
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Erroll B Davis, Jr
Non-Executive Director
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D J Flint, CBE
Non-Executive Director
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Dr W E Massey
Non-Executive Director
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Cynthia Carroll
Non-Executive Director
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Tony Hayward
Group Chief Executive
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George David
Non-Executive Director
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Offices

United States
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United Kingdom
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Norway
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Algeria
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