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BP to Market For Sale Dutch Gas Exploration and Production Business

May 10 2006

BP has announced that it intends to market for sale its exploration and production (E&P) and gas infrastructure business in the Netherlands, comprising its onshore and offshore production assets and its Piek Gas Installatie (PGI) at Alkmaar.

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The business will be offered as an ongoing, fully staffed operation and BP does not expect any redundancies as a result of the sale.

It is expected that the sale will be completed by the end of the year, subject to consultation with the Works Council.

BP's Dutch E&P/gas infrastructure business has a staff of around 120 employees and long term contractors. It operates assets both onshore and offshore in the Netherlands and had net gas production of around 1.8 million cubic metres a day (62 million cubic feet a day) in 2005.

This sale does not affect BP’s other significant business activities in the Netherlands which comprise energy trading, refining and marketing of fuels and lubricants as well as a renewable energy business

http://www.bp.com

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