BP reports E&P results

Published November 15th, 2000 - 02:00 GMT

BP Amoco has announced its Exploration and Production divisions' results. Reported production increased by 6 percent (a 3 percent decline excluding the effect of acquisitions and divestments). 

 

Compared to the same period last year, oil production was down 7 percent (a 5 percent decline excluding the effect of acquisitions and divestments), gas production increased by 32 percent (no change excluding the effect of acquisitions and divestments).  

 

New developments in the US Gulf of Mexico were approved by BP, amounting to $1.2 billion in commitments. Government approval has been sought for $630 million worth of development offshore UK.  

 

During the quarter, there were further discoveries in Angola and Trinidad, with significant estimated resource.  

(oilonline)  

© 2000 Mena Report (www.menareport.com)

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