BP (BP)

Asia (including the former Soviet Union)

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BP, as operator, manages and holds a 30.1% interest in the BTC oil pipeline which was inaugurated in May 2005. The 1,770 kilometre pipeline is expected to carry one million barrels of oil a day from the BP-operated ACG oilfield in the Caspian Sea to the eastern Mediterranean port of Ceyhan. The filling of the pipeline with oil commenced in May, and loading of the first tanker at Ceyhan is expected in the fourth quarter of 2005.



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The South Caucasus Pipeline (SCP) for the transport of gas from Shah Deniz in Azerbaijan to the Turkish border is under construction and scheduled to be mechanically complete at the end of 2005. BP is the operator and holds a 25.5% interest.



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Through the LukArco joint venture, BP holds a 5.75% interest (with a 25% funding obligation) in the Caspian Pipeline Consortium (CPC) pipeline. CPC is a 1,510-kilometre pipeline from Kazakhstan to the Russian port of Novorossiysk. The initial construction phase was completed in April 2003. The pipeline has an initial capacity of 28.2 million tonnes (approximately 225 mmboe) a year and carries crude oil from the Tengiz field (BP 2.3%). In addition to our interest in LukArco, we hold a separate 0.87% interest (3.5% funding obligation) in CPC through a 49% holding in Kazakhstan Pipeline Ventures. In 2004, CPC total throughput reached 22.5 million tonnes. This increased within the year and throughput for the month December 2004 reached the equivalent of 33.1 million tonnes on an annual basis.

Asia (including the former Soviet Union)

—

BP, as operator, manages and holds a 30.1% interest in the BTC oil pipeline which was inaugurated in May 2005. The 1,770 kilometre pipeline is expected to carry one million barrels of oil a day from the BP-operated ACG oilfield in the Caspian Sea to the eastern Mediterranean port of Ceyhan. The filling of the pipeline with oil commenced in May, and loading of the first tanker at Ceyhan is expected in the fourth quarter of 2005.



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The South Caucasus Pipeline (SCP) for the transport of gas from Shah Deniz in Azerbaijan to the Turkish border is under construction and scheduled to be mechanically complete at the end of 2005. BP is the operator and holds a 25.5% interest.



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Through the LukArco joint venture, BP holds a 5.75% interest (with a 25% funding obligation) in the Caspian Pipeline Consortium (CPC) pipeline. CPC is a 1,510-kilometre pipeline from Kazakhstan to the Russian port of Novorossiysk. The initial construction phase was completed in April 2003. The pipeline has an initial capacity of 28.2 million tonnes (approximately 225 mmboe) a year and carries crude oil from the Tengiz field (BP 2.3%). In addition to our interest in LukArco, we hold a separate 0.87% interest (3.5% funding obligation) in CPC through a 49% holding in Kazakhstan Pipeline Ventures. In 2004, CPC total throughput reached 22.5 million tonnes. This increased within the year and throughput for the month December 2004 reached the equivalent of 33.1 million tonnes on an annual basis.