BP (BP)

Asia Pacific

        Indonesia

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BP produces crude oil and supplies natural gas to the island of Java through its holding in the Offshore Northwest Java Production Sharing Contract (PSC, BP 46%).



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In the fourth quarter of 2004, BP approved its share of the investment in the Tangguh LNG project.



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The sales of BP's interests in the Kangean PSC, which contained the Pagerungan field, and the Muriah non-producing PSC were completed in August and November 2004 respectively.

        Vietnam

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BP participates in the country's biggest foreign investment, the Nam Con Son gas project. This is an integrated resource and infrastructure project including offshore gas production, pipeline transportation system and power plant. Gas sales from Block 6.1 (BP 35% and operator) commenced in early 2003. The gas is sold under a long-term agreement for electricity generation in Vietnam, including the Phu My 3 power plant (BP 33.33%), which commenced operations on March 1, 2004.

        China

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The Yacheng field operatorship was transferred from BP to China National Offshore Oil Corporation (CNOOC) on January 1, 2004. The Yacheng field (BP 34.3%) supplies, under a long-term contract, 100% of the natural gas requirement of Castle Peak Power Company, which provides around 50% of Hong Kong's electricity. Some natural gas is also piped to Hainan Island, where it is sold to the Fuel and Chemical Company of Hainan, also under a long-term contract.

        Australia

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We are one of six equal partners (BP 15.8%) in the North West Shelf (NWS) Venture. The operation covers offshore production platforms, a floating production and storage vessel, trunklines, and onshore gas processing plants. The NWS Venture is currently the principal supplier to the domestic market in Western Australia. During 2004, a fourth LNG Train (4.2 million tonnes per annum) and a second trunkline were commissioned.

Asia Pacific

        Indonesia

—

BP produces crude oil and supplies natural gas to the island of Java through its holding in the Offshore Northwest Java Production Sharing Contract (PSC, BP 46%).



—

In the fourth quarter of 2004, BP approved its share of the investment in the Tangguh LNG project.



—

The sales of BP's interests in the Kangean PSC, which contained the Pagerungan field, and the Muriah non-producing PSC were completed in August and November 2004 respectively.

        Vietnam

—

BP participates in the country's biggest foreign investment, the Nam Con Son gas project. This is an integrated resource and infrastructure project including offshore gas production, pipeline transportation system and power plant. Gas sales from Block 6.1 (BP 35% and operator) commenced in early 2003. The gas is sold under a long-term agreement for electricity generation in Vietnam, including the Phu My 3 power plant (BP 33.33%), which commenced operations on March 1, 2004.

        China

—

The Yacheng field operatorship was transferred from BP to China National Offshore Oil Corporation (CNOOC) on January 1, 2004. The Yacheng field (BP 34.3%) supplies, under a long-term contract, 100% of the natural gas requirement of Castle Peak Power Company, which provides around 50% of Hong Kong's electricity. Some natural gas is also piped to Hainan Island, where it is sold to the Fuel and Chemical Company of Hainan, also under a long-term contract.

        Australia

—

We are one of six equal partners (BP 15.8%) in the North West Shelf (NWS) Venture. The operation covers offshore production platforms, a floating production and storage vessel, trunklines, and onshore gas processing plants. The NWS Venture is currently the principal supplier to the domestic market in Western Australia. During 2004, a fourth LNG Train (4.2 million tonnes per annum) and a second trunkline were commissioned.