Key Developments: BP PLC (BP_pb.L)

BP_pb.L on London Stock Exchange

3 Jul 2014
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Latest Key Developments (Source: Significant Developments)

BP Plc gives FY 2014 production guidance - Conference call
Tuesday, 4 Feb 2014 09:00am EST 

BP Plc:Expect underlying production in fiscal 2014 to increase compared with fiscal 2013, with reported production being lower due to these effects.  Full Article

BP Plc declares quarterly dividend
Monday, 3 Feb 2014 07:00pm EST 

BP Plc:Declares quarterly dividend of 9.5 Pound cents per ordinary share ($0.57 per ADS), which is expected to be paid on Mar. 28.  Full Article

BP Plc announces oil find in the Gulf of Mexico at prospect co-owned with ConocoPhillips
Wednesday, 18 Dec 2013 02:11am EST 

BP Plc:Says it has made an oil discovery at its Gila prospect, which it co-owns with ConocoPhillips, in the deepwater United States Gulf of Mexico.Says the Gila discovery was made by an exploration well on Keathley Canyon Block 93, about 300 miles southwest of New Orleans, in about 4,900 feet of water.Says appraisal drilling, including completion of drilling through the Paleocene section, will be required to determine the size and potential commerciality of the discovery.  Full Article

BP Plc signs with Government of the Sultanate of Oman gas sales agreement and an amended production sharing agreement for the development of the Khazzan field
Monday, 16 Dec 2013 03:02am EST 

BP Plc:Says the Government of the Sultanate of Oman and BP have, on Dec. 16, signed a gas sales agreement and an amended production sharing agreement for the development of the Khazzan field, with BP as operator.Says the full field development will involve a drilling programme of around 300 wells over 15 years to deliver plateau production of one billion cubic feet (28.3 million cubic metres) of gas per day and 25,000 barrels per day of gas condensate.Says the volume is equivalent to around a third of Oman's total daily domestic gas supply and will contribute to ensuring continuing stable supplies from domestic sources.Says the total investment in the full field development is around $16 billion, which includes the investment made to date in the appraisal of the resource and early well test programme.Says construction work for the Khazzan project, located in the South of Block 61, will begin in 2014, and first gas is expected in late 2017.Says gas production is expected to ramp up to plateau in 2018 and in total the project is expected to develop around 7 trillion cubic feet (tcf) of gas, which will require BP to deploy new technologies.Says the amended exploration and production sharing agreement and a gas sales agreement extend for an initial 30 years.Says the full field development involves a 15-year drilling programme, with production tied back to a new central processing facility in Block 61 via a 500 kilometre long gathering system.  Full Article

BP Plc and group of oil, gas companies join seismic acquisition project in Barents Sea
Monday, 9 Dec 2013 07:00pm EST 

Statoil ASA:Says a group comprised of 17 oil and gas companies has established a project for joint seismic acquisition in the southeastern Barents Sea and Statoil is the operator of the project.Says the companies taking part from the beginning are BP Plc, Chevron Corp, ConocoPhillips, Det norske oljeselskap ASA, Eni SpA, GDF Suez SA, Idemitsu Kosan Co, NK Lukoil OAO, Lundin Petroleum AB, Norske Shell, PGNiG, Repsol SA, Spike, Statoil, Suncor Energy Inc, VNG and Wintershall.Says at the request of the Norwegian Ministry of Petroleum and Energy (MPE), the industry, via the Norwegian Oil and Gas Association, has taken the initiative to jointly acquire seismic 3D data from the blocks in the southeastern Barents Sea.Says the blocks will be announced in the 23rd licensing round for the Norwegian continental shelf (NCS) in 2014.Says this is the first new area on the NCS to be opened since 1994.Says 30 companies showed interest in participating in such a collaboration.Says when the authorities circulate the 23rd round nominated blocks for public consultation, other oil companies will get a new opportunity to engage in the project.Says it is expected that several companies will make use of this offer.Says the project will immediately initiate a tender process for the seismic acquisition.Says the plan is for the seismic surveys to start in Apr. 2014 and conclude in the autumn of the same year.  Full Article

BP Plc announces 3Q 2013 interim dividend payment
Monday, 9 Dec 2013 05:03am EST 

BP Plc:Says on Oct. 29 it announced the interim dividend for the third quarter of fiscal year 2013 of $0.095 per ordinary share ($0.57 per ADS).Says this interim dividend is to be paid on Dec. 20 to shareholders on the share register on Nov. 8.Says the dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs.Says sterling dividends payable in cash will be converted from US dollars at an average of the market exchange rate over the four dealing days from Dec. 3 to Dec. 6 (1 pound = $1.63771).Says accordingly, the amount of sterling dividend payable in cash on Dec. 20 will be 5.8008 pence per share.  Full Article

BP Plc to buy stake in Azeri gas pipeline project TANAP - Reuters
Friday, 6 Dec 2013 10:30am EST 

BP Plc:Says it has agreed to partner Azeri state energy firm SOCAR and Turkey in the Trans-Anatolian natural gas pipeline project (TANAP) - Reuters.Says SOCAR, which currently has an 80 percent interest, will sell a 12 percent stake in TANAP, which is estimated to cost around $8 billion to $10 billion and will be built from the Turkish-Georgian border to Turkey's border with Europe.Says Turkey owns the remaining 20 percent.  Full Article

GDF Suez SA Acquires 20% Stake in Gas Exploration Blocks in which BP Plc Holds 40% Stake
Wednesday, 13 Nov 2013 07:00pm EST 

GDF Suez SA announced that it has signed an ‘Asset Purchase Agreement’ (APA) with Vale SA to acquire its 20% participating interest in two gas exploration blocks, in which BP Plc also holds a 40% stake, in the Parnaiba onshore basin, located in the North East of Brazil. Signing of the APA marks the first entry of GDF Suez SA into the exploration-production activities in Brazil. Blocks 2 and 3 cover an area of 3,067 square kilometers and 3,065 square kilometers respectively. These licences were awarded in March 2008 as part of the 9th exploration bid round to Vale (20%), BP Plc (40%, operator of block 2) and Petrobras (40%, operator of block 3). One exploration well in each of these two blocks is scheduled by March 2014.  Full Article

Government Asks BP Plc, Reliance Industries Ltd To Surrender 81% Of KG-D6 Gas Block - Business Standard
Wednesday, 30 Oct 2013 08:20am EDT 

Business Standard reported that the government asked Reliance Industries Ltd to give up 81 % of its KG-D6 gas block, including five discoveries, as the time allocated for producing from them had expired. The Oil Ministry wants RIL and its partners BP plc of UK and Canada's Niko Resources to give up 6,198.88 square kilometres out of a total 7,645 sq km area in KG-D6 block, by retaining only the portions where regulator DGH-recognised discoveries have been made. The area sought is more than 5,367 sq km area that RIL had offered to relinquish and includes five discoveries - D4, D7, D8, D16 and D23 for which the Directorate General of Hydrocarbon (DGH) had opined that RIL missed deadlines for submission of investment plans.  Full Article

BP Plc Comments On FY 2013 Production Guidance-Conference Call
Tuesday, 29 Oct 2013 10:00am EDT 

BP Plc announced that its underlying production for fiscal 2013 is broadly flat with fiscal 2012, and that is after 50,000 barrels a day having been divested.  Full Article


Maersk plans $1.7 billion Brazil writedown; sells oilfield stake

COPENHAGEN/RIO DE JANEIRO - Danish oil and shipping group A.P. Moller-Maersk moved to shrink its Brazilian petroleum operations on Tuesday, selling its stake in its only producing Brazilian oilfield and saying it will write off $1.7 billion of investments in the country.

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