BP » Topics » Gulf of Mexico Shelf

This excerpt taken from the BP 20-F filed Jun 13, 2006.

Gulf of Mexico Shelf

        The Shelf is a mature basin, with decline rates that average 40-50% per year. In accordance with our strategy, in the third quarter of 2004, we continued to increase the quality of our portfolio by completing the disposal of the Vermilion 14, Eugene Island 240, Main Pass 264 and South Pass 60 properties. These fields accounted for approximately 42 mmcf/d. Our gas production from Gulf of Mexico Shelf operations was 240 mmcf/d in 2004, down 36% compared to 2003. Liquids production was

33



24 mb/d, down 38% compared to 2003. The year-on-year drop in production was the result of the divestment programme, normal decline, the effects of Hurricane Ivan and reduced capital spending.

This excerpt taken from the BP 20-F filed Jun 30, 2005.

Gulf of Mexico Shelf

        The Shelf is a mature basin, with decline rates that average 40-50% per year. In accordance with our strategy, in the third quarter of 2004, we continued to increase the quality of our portfolio by completing the disposal of the Vermilion 14, Eugene Island 240, Main Pass 264 and South Pass 60 properties. These fields accounted for approximately 42 mmcf/d. Our gas production from Gulf of Mexico Shelf operations was 240 mmcf/d in 2004, down 36% compared to 2003. Liquids production was

32



24 mb/d, down 38% compared to 2003. The year-on-year drop in production was the result of the divestment programme, normal decline, the effects of Hurricane Ivan and reduced capital spending.

EXCERPTS ON THIS PAGE:

20-F
Jun 13, 2006
20-F
Jun 30, 2005

"Gulf of Mexico Shelf" elsewhere:

Pioneer Natural Resources Company (PXD)
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