Last 413.00 GBp
Change Today +10.45 / 2.60%
Volume 80.9M
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As of 11:35 AM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

1 St James's Square

London, SW1Y 4PD

United Kingdom

Phone: 44 20 7496 4000

Fax: 44 20 7496 4630

. Africa The company’s upstream activities in Africa are located in Angola, Algeria, Libya, Morocco, Egypt and Namibia. It is present in nine major deepwater licences offshore Angola. In addition, the company has a 13.6% share in the Angola LNG project. In Algeria, the company is a partner with Sonatrach and Statoil in the In Salah (BP 33.15%) and In Amenas (BP 45.89%) projects, which supply gas to the domestic and European markets. In Libya, the company is in partnership with the Libyan Investment Authority (LIA) to explore acreage in the onshore Ghadames and offshore Sirt basins. In Morocco, the company entered into three farm-out agreements with Kosmos Energy covering three blocks in the Agadir Basin, offshore Morocco. In Egypt, the company and its partners produce 15% of Egypt’s oil production and approximately 30% of its gas production. In Namibia, the company is a non-operating partner in one deepwater block, which is in the exploration phase. Asia In Asia, the company has activities in Western Indonesia, China, Azerbaijan, Oman, Abu Dhabi, India, and Iraq. In Western Indonesia, the company is involved in two of Indonesia’s three LNG centers. BP’s first operated LNG plant, Tangguh (BP 37.16%), is located in Papua Barat. The asset comprises 14 producing wells, two offshore platforms, 2 pipelines and an LNG plant with 2 production trains and has a total capacity of 7.6 million tonnes of LNG per annum. The company also participates in Indonesia’s LNG exports through its interest in Virginia Indonesia Company LLC (VICO), the operator of Sanga-Sanga PSA (BP 38%) supplying gas to the Bontang LNG plant in Kalimantan. The company also participates in the Sanga-Sanga CBM PSA (BP 38%), as well as one other CBM PSA, Tanjung IV (BP 44%), in the Barito basin of Central Kalimantan. In China, the company’s upstream activities in the country include deepwater exploration in the South China Sea’s Block 42/05 (BP 40.82%), Block 43/11 (BP 40.82%) and Block 54/11 (BP 100%). In China, the company also has a 30% equity stake in the 7 million tonnes per annum capacity Guangdong LNG regasification and pipeline project in south-east China, making it the first foreign partner in China’s LNG import business. In Azerbaijan, the company invests more than any other foreign investor, operates two PSAs, Azeri-Chirag-Gunashli (ACG) (BP 35.8%) and Shah Deniz (BP 25.5%), and also holds other exploration leases. In Abu Dhabi, during 2013, the company had equity interests of 9.5% and 14.67% in onshore and offshore concessions respectively. Also in Abu Dhabi, it has a 10% equity shareholding in the Abu Dhabi Gas Liquefaction Company, which in 2013 supplied 5.4 million tonnes of LNG (281 bcfe regasified). In India, the company has a 30% interest in six oil and gas PSAs operated by Reliance Industries Limited (RIL), a 50% interest in one operated PSA, and is a partner with RIL in a 50:50 joint operation for the sourcing and marketing of gas in India. In Iraq, the company holds a 38% working interest and is the lead contractor in the Rumaila technical service contract. Australasia In Australasia, the company is active in Australia and Eastern Indonesia. In Australia, the company is one of seven partners in the North West Shelf (NWS) venture, which has been producing LNG, pipeline gas, condensate, LPG and oil. Six partners (including BP) hold an equal 16.67% interest in the gas infrastructure and an equal 15.78% interest in the gas and condensate reserves, with a seventh partner owning the remaining 5.32%. The company also has a 16.67% interest in some of the NWS oil reserves and related infrastructure. The company also holds a 5.375% interest in the Jansz-lo field and 12.5% interests in the Geryon, Orthrus and Maenad fields, which are part of the Greater Gorgon project. The company holds a 70% interest in four deepwater offshore exploration blocks in the Ceduna Sub Basin (this follows the farm-down of 30% of its interest in the four blocks to Statoil in April). It is also one of five partners in the Browse LNG venture (operated by Woodside) and holds a 17% interest. In Eastern Indonesia, B

 

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BP/

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Valuation BP/ Industry Range
Price/Earnings 13.0x
Price/Sales 0.3x
Price/Book 0.9x
Price/Cash Flow 4.5x
TEV/Sales 0.3x
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