The end of 2016 was a busy period for BP with a prolific period of announcements that will shape the business during this year and decades to come. Find out more about them here

1. Around
the world
in 11 deals
The new year for BP
follows a prolific period
of announcements and
agreements that will help
to shape the future of the
business during 2017 and
for decades to come.
This map highlights 11 recent
deals that enhance the
resilience, competitiveness
and balance of BP’s global
portfolio.
ADCO CONCESSION
ABU DHABI
NEW ACCESS
MEXICO
LNG
THAILAND
RETAIL
AUSTRALIA
ACG OILFIELD
AZERBAIJAN
FULCRUM INVESTMENT
NORTH AMERICA
MAD DOG 2
GULF OF MEXICO (US)
TANGGUH
INDONESIA
EXPLORATION
MAURITANIA AND
SENEGAL ZOHR GAS FIELD
EGYPT
KHAZZAN GAS FIELD
OMAN
Exploration, Mauritania and Senegal
BP signs agreements with Kosmos Energy
to acquire a 62% working interest, including
operatorship, of exploration blocks in
Mauritania and a 32.49% working interest in
Senegal exploration blocks. Both regions
hold world-class deepwater gas discoveries
and exploration prospects. BP will invest
almost $1 billion, mostly in the form of a
multi-year exploration and development
programme.
Zohr Gas Field, Egypt
BP buys a 10% share in Egypt’s giant
offshore gas field.The field was discovered
in 2015 by Italian oil and gas company Eni.
It is estimated to hold approximately
30 trillion cubic feet of gas. BP has had a
presence in Egypt since 1950.
ACG Oilfield,Azerbaijan
The BP-operated Azerbaijan International
Operating Company signs a letter of intent
with SOCAR of Azerbaijan on the key
commercial terms to extend development at
the Azeri-Chirag-Gunashli oilfield out to
2050. This is 22 years after BP first signed
what is known in Azerbaijan as the ‘contract
of the century’.
Fulcrum investment, NorthAmerica
BP’s venturing team invests $30 million in
Fulcrum BioEnergy to pioneer the
development and production of low-carbon
aviation fuel—or biojet—made from town
or district waste. The deal gives Air BP
access to 50 million US gallons of biojet a
year. As a preferred supply chain partner, Air
BP will distribute and supply biojet to
aircraft at key hubs across the region.
Mad Dog 2, Gulf of Mexico (US)
The project is given the go-ahead by BP,
after three years of work to bring down
costs to $9 billion, around 60% lower than
the original figure. This will add 140,000
barrels of crude oil production capacity to
BP’s Gulf of Mexico operations
by late-2021.
NewAccess, Mexico
New access to explore for the first time in
Mexican waters in the Gulf of Mexico. BP
won interests in two blocks with significant
resource potential in the deepwater
Campeche Basin. This follows the energy
reforms that have opened up Mexico’s oil
and gas industry to foreign participation for
the first time in 75 years.
ADCO Concession,Abu Dhabi
BP signs a new 40-year agreement to
extend the ADCO concession to 2055. The
deal grants BP a 10% interest in ADCO and
will add around 165,000 barrels of oil per
day. The Abu Dhabi Government also
becomes a 2% BP shareholder. BP has had
a presence in the Emirate since 1939.
Khazzan Gas Field, Oman
An agreement is reached with the
Government of Oman to expand the
Khazzan gas project by 50%. The deal adds
more than 380 square miles (1,000 square
kilometres) to the south and west of the
original 1,040 square miles (2,700 square
kilometres) of Block 61. Phase one of the
project is on track to deliver first gas by the
end of 2017.
LNG,Thailand
A 20-year deal is signed that will see BP
provide PPT, Thailand’s national petroleum
and petrochemical company, with
approximately 1 million tonnes of liquefied
natural gas (LNG) every year. Supply starts
in 2017 and will be sourced from BP’s
diverse portfolio of LNG, including the
Freeport LNG Project in the US.
Retail,Australia
BP announces plans to establish a new
partnership withWoolworths, one of
Australia’s largest supermarket retailers,
including to acquire, rebrand and operate
more than 500 fuel and convenience sites
for $1.3 billion. The deal will include a new
fuel and convenience offer called
Metro at BP.
Tangguh, Indonesia
BP extends its interest in theTangguh LNG
plant in Indonesia to just over 40%, with the
acquisition of an additional 3% share. The
plant is the second largest in the country
and is set to grow. TheTangguh Expansion
Project will add a third processing train,
extending capacity from the current 7.6
million to 11.4 million metric tonnes by 2020.