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 Growth and Cost Challenges (ppt, 4024KB)
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Growth and cost challenges Gro Kielland , Managing Director of BP Norge
Transcript of  Growth and Cost Challenges (ppt, 4024KB)
Growth and cost challenges
Gro Kielland , Managing Director of BP Norge
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Topics to be covered
• BP- from a middle sized to Supermajor
• North Sea Cost Challenge
• BP Norway significant growth
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Who we are
BP is an oil, gas, refining & marketing and renewables company
We employ 96 200 people
We have operations on 6 continents and in over 100 countries
...one for the largest E&P companies in the world
...over 28 500 service stations worldwide
...serving 13 million customers every day
...one of the largest producer of solar panels
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Reserves replacement
Reserves replacement for subsidiaries + associates, excludes the effects of
acquisitions & divestments, SEC basis
5 year moving average
0
20
40
60
80
100
120
140
160
85 86 87 88 89 90 91 92 9394 95 96 97 98 99 00 0102 03 04 05 06
%
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McKinsey 2006 North Sea Benchmarking
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20
40
60
80
100
120
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160
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200
1990 1995 2000 2005 2010 2015
Opex per barrel for producing fieldsIndexed to 100 in 2006
Historical Forecast
Netherlands
UK
Norway
Netherlands
UK
Norway
3,976
2004
4,389
2005
+10%
1,838
2004
1,717
2005
-7%
2.16
2004
2.56
2005
+18%
Lifting Cost*$ Million
ProductionMillion boe
Unit Lifting cost$/boe
*Lifting cost includes partner billed OPEX, excluding tariff and transport costs (Consistent group of 35 assets in Denmark, UK and Norway from the McKinsey Benchmarking exercise)Source: McKinsey analysis; McKinsey 2006 North Sea Benchmarking; Wood MacKenzie
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2007 BP’s North Sea Cost Map
c. $5bn of gross external spend
Seismic
Drilling & Wells
Operations
Business Services
Major Project
s
Subsea
Logistics
15%
11%
21%
5%
26%
21%
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• Partner in 13 licenses
• Operator at 10 of these
• Operator of five producing fields; Ula,Tambar, Valhall,Hod and Skarv
• Partner in the Draugen field
• New field center at Valhall
• Skarv Idun field development
• Connecting the Blane field to Ula
= Core Areas
Our activities offshore Norway
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BP Norway production profile
Source: 2007-2009 : NB08, 2010-2017 : RNB2007
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10
20
30
40
50
60
70
80
90
100
2 007 2 008 2 009 2 010 2 011 2 012 2 013 2 014 2 015 2 016 2 017
mbo
ed n
et
Total BP Net
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Key facts Skarv Idun development
Production start Accommodation Oil production Gas production Topsides Hull Turret/mooring system Wells Sub sea templates
3kv. 2011100 single bed cabins85 000 b/d15 mill sm3/d16 000 tonne40 000 tonne 4 000 tonne165
• 16,8 mill Sm3 oil & condensate
• 48,3 billion Sm3 gas
• Investments ca .31 billion NOK
• Phased development with early oil production
• 80km long 26" spur line to Åsgard Transport System
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Overview Valhall Field Development
Flank South
Flank NorthEkofisk
Lista
Valhall Complex
New PH
Pipeline from HOD
HVDC Cable
Oil Pipeline to Ekofisk
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BP in Norway
•Long term perspective, at least to yr 2050
•Progressive user of new technology
•$ 6-7 billion gross to be invested the next 4 yrs
