BP 2006 Annual Report Download - page 180

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52 Suspended exploration well costs continued
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Country Project
Cost
$ million
2006
wells
gross
Years
wells
drilled
Anticipated
year of
development
project sanction Comment
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
UK Andrew 14 1 1998 2007 Assessment of hydrocarbon quantities as potentially
commercial completed; development options identified
and under evaluation; development awaiting capacity in
existing infrastructure; negotiations under way for gas
sales contract.
Devenick 90 3 1983-2001 2007 Assessment of hydrocarbon quantities as potentially
commercial completed; assessment of economic aspects
of project in progress; development options identified and
under evaluation; development expected in conjunction
with Harding Gas Project nearby.
Puffin 29 9 1982-1991 2008-2010 Assessment of hydrocarbon quantities as potentially
commercial completed; further assessment of economic
and developmental aspects of project to be undertaken;
sub-surface and feasibility review under way; development
awaiting capacity in existing infrastructure.
Suilven 20 3 1995-1998 2010-2011 Assessment of hydrocarbon quantities as potentially
commercial completed; assessment of economic and
developmental aspects of project in progress;
development anticipated to be by tieback to existing
production vessel; awaiting capacity in existing
infrastructure.
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153 16
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US Entrada 24 2 2000 2007 Assessment of hydrocarbon quantities as potentially
commercial completed; development options identified
and under evaluation; expected development as subsea
tieback to facilities installed in 2005; negotiations with
infrastructure owners for product handling agreement are
under way.
Liberty 20 1 1997 2008 Assessment of hydrocarbon quantities as potentially
commercial completed; development options identified
and under evaluation; planned tieback via extended reach
drilling from existing infrastructure; Memorandums of
Understanding with two key permitting agencies have
been secured.
Mad Dog Deep 49 1 2005 2009-2011 Assessment of hydrocarbon quantities as potentially
commercial completed; assessment of economic and
developmental aspects of project under way.
Mad Dog Southwest Ridge 33 3 2005 2008 Assessment of hydrocarbon quantities as potentially
commercial completed; assessment of economic aspects of
project under way; development options identified and under
evaluation; development expected to be by subsea tieback.
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126 7
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Vietnam Hai Thach 65 3 1995-2002 2008-2009 Assessment of hydrocarbon quantities as potentially
commercial completed; assessment of economic aspects
of project in place; development options identified and
under evaluation; licence extension under negotiation.
Kim Cuong Tay 13 1 1995 2010-2012 Initial assessment of hydrocarbon quantities as potentially
commercial completed; further assessment of
developmental aspects of project to be undertaken; further
seismic study planned for 2007.
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78 4
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Miscellaneous
smaller projects
24 8
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781 69
Certain projects which were classified as projects with completed exploration drilling activity at 31 December 2005 are not classified as such at
31 December 2006:
– The following projects were sanctioned for development in 2006: Florena/Pauto in Colombia; Ras El Bar/Taurt in Egypt; Cashima and Red Mango in
Trinidad; and Dorado in the US.
– In Egypt, further exploratory drilling was undertaken in 2006 on the Temsah project, and $8 million relating to part of the project was sanctioned
in 2006.
– In Angola, the Bavuca/Kakocha/Mavacola/Mbulumbumba/Vicango project was regrouped into two separate projects, with one project planning
further exploratory drilling in 2007 and an appraisal well having been drilled on the other in 2006.
– In the US, the Point Thompson/Sourdough project was written off resulting in an expense of $27million in respect of the well costs.