BP (BP)

Drilling and production

Exploration and production require high levels of investment and are subject to natural hazards and other uncertainties, including those relating to the physical characteristics of an oil or natural gas field. The cost of drilling, completing or operating wells is often uncertain. We may be required to curtail, delay or cancel drilling operations because of a variety of factors, including unexpected drilling conditions, pressure or irregularities in geological formations, equipment failures or accidents, adverse weather conditions and compliance with governmental requirements.
 

Exploration and production require high
levels of investment and are subject to natural hazards and other uncertainties, including
those relating to the physical characteristics of an oil or natural gas field. The cost of
drilling, completing or operating wells is often uncertain. We may be required to curtail,
delay or cancel drilling operations because of a variety of factors, including unexpected
drilling conditions, pressure or irregularities in geological formations, equipment
failures or accidents, adverse weather conditions and compliance with governmental
requirements.

 

Transportation
All modes of transportation of hydrocarbons contain inherent risks. A loss of containment of hydrocarbons and other hazardous material could occur during transportation by road, rail, sea or pipeline. This is a significant risk due to the potential impact of a release on the environment and people and given the high volumes involved.

Operations – planning and performance management
Investment efficiency
Our organic growth is dependent on creating a portfolio of quality options and investing in the best options. Ineffective investment selection could lead to loss of value and higher capital expenditure.