BP 2013 Annual Report Download - page 9

Strategic report
Our activity in the North Sea region
encompasses the entire industry life cycle,
from access and exploration to production and
decommissioning. We operate more than 20
oil and gas fields, two major terminals and an
extensive network of pipelines.
We have interests in nine offshore deep
and ultra deepwater blocks in Angola with a
total acreage of more than 32,600km2. Our
Plutão, Saturno, Vénus and Marte (PSVM)
offshore development began producing oil
in December 2012 and is one of the largest
subsea developments in the world.
We produce petrochemicals products
across our 15 manufacturing sites, and sell
our products to customers in more than
40 countries. Approximately 45% of our
capacity is in Asia, 30% in the US and 25%
in Europe.
Rosneft is Russia’s largest oil company
and the world’s largest publicly traded oil
company in terms of hydrocarbon
production. BP’s 19.75% share of Rosneft’s
proved reserves on an SEC basis is 5 billion
barrels of oil and 9 trillion cubic feet of gas.
Rosneft’s downstream operations include
interests in 23 refineries (see page 35).
Petrochemicals
Rosneft
AzerbaijanNorth Sea
Angola
We invest more in Azerbaijan than any other
foreign company, operating two production-
sharing agreements as well as holding other
exploration leases. The Caspian Sea is one
of the world’s major hydrocarbon provinces,
and the development of the region’s offshore
oil and gas fields and onshore pipelines has
made Azerbaijan a focal point of the global
energy market.
Strategic report
BP Annual Report and Form 20-F 2013 5