BP in Angola Sustainability Report 2010 (pdf, 3860KB)

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How we operate Governance and management systems High-level corporate governance policies guide our operations and detailed processes are applied in our day-to-day activities Timeline 1970s Initial Amoco involvement in Angola 1996 Amoco acquires rights to block 18 1999 BP assumes operatorship of block 31 2001 Launch of offshore technicians training programme 2001-06 Exploration, pre-drill development wells drilling programme 2005 The BP Serpent project makes new biodiversity discoveries in offshore waters 2005 BP and oil industry partners launch CAE – the enterprise centre 2006 Greater Plutonio FPSO construction is completed 2007 First oil from Greater Plutonio; sanction for the ALNG project 2008 BP makes 16th discovery in the ultra deepwaters of block 31; approval granted for the future development of block 31 2009 BP makes its 19th discovery in block 31 2010 BP invited to negotiate access to four new exploration blocks 8 BP in Angola Sustainability Report 2010 BP Angola’s governance and management systems The Angola leadership team has responsibility for the direction and oversight of BP Angola activities. It seeks to achieve the business’s strategy of creating a sustainable Angolan energy company, producing returns that contribute to the successful delivery of BP’s exploration and production business. In pursuit of this strategy, the leadership team operates in accordance with a set of governance principles and management systems. These provide a framework for determining what we are trying to deliver and how we go about that delivery. Our operating management system (OMS), being implemented in Angola, is designed to enable the business to achieve its commercial goals – through strategy, planning and execution – while operating safely, ethically and responsibly by applying values, standards and controls. In line with the rest of BP, controls include the BP code of conduct (see page 15), our leadership framework and our principles for delegation of authority. These are all designed to make sure employees understand what is expected of them. As part of the control system, the BP Angola leadership team is supported by work that focuses on the development and implementation of our strategy, provides assurance on performance and manages risks to delivery. To manage the risks which might prevent us from achieving our business goals, we carry out risk assessments which cover a wide range of technical and non-technical issues. We also apply group standards, which set out requirements in areas such as safety and integrity, through to detailed administrative instructions on issues such as fraud reporting. The way we manage our people (see pages 13-15), is based on setting performance objectives in which individuals are accountable for delivering specific elements of the plan within agreed boundaries. While safety has long been an element of how we reward people, our new performance management system, developed after the Deepwater Horizon incident, provides for explicit links between safety and reward, linked to our values and behaviour. Our values We are updating our values, with a goal of ensuring they support the way we conduct our business. In all our activities, we expect high ethical standards and act in accordance with our code of conduct. Our values are there to guide us in everything we do, and the events of 2010 renewed our focus on the need for a shared understanding of what we believe, how we behave and what we aspire to do as a company. Our experience especially highlighted the importance of long-term thinking, collaboration across teams and the humility to learn lessons and listen to others. Using our influence Where we are partners in activities in Angola operated by others, we seek to influence them through dialogue and constructive engagement to work towards standards and policies comparable with our own. 1 2 1 Fatima Benge, Operations Team Leader 2 Launch of OMS in BP Angola
Our operations We have been present in Angola since the 1970s and since the late 1990s have made substantial investments in the country’s offshore development projects with the result that Angola has become an important part of the group’s upstream portfolio The Production Sharing Agreement BP’s operations in Angola are undertaken under a Production Sharing Agreement (PSA) which sets out the terms of engagement with the Angolan government. The PSA provides the framework for our relationship with Sonangol and includes financial provisions relating to how investment costs are recovered and profits shared, as well as requirements on non-financial matters such as health, safety and the environment (HSE), the need to recruit and develop local people and the preferential use of local labour and materials where possible. Our relationship with Sonangol, the state-owned oil company, is an extremely important aspect of our activities in Angola. This is not only because of its role in managing the development of the country’s hydrocarbon reserves on behalf of the country, but also because Sonangol’s influence in the wider economy is significant. Its portfolio ranges from the whole chain of oil industry services, to capital investment in the banking sector, and includes internationalization initiatives that have taken Sonangol businesses to Brazil and Block 31 Operator: BP BP Equity: 26.67% Major Projects PSVM (FO 2012) Second Hub (FO 2019) Future hub/tiebacks (FO 2022+) Block 18 Operator: BP BP Equity: 50% Producing Greater Plutonio (FO 2007) Major Project PCC (FO 2015) Block 26 Operator: Petrobas BP Equity: 40% 31 15 Existing BP Operation Existing Total Operation Existing Exxon Operation Existing Kwanza award – Petrobas (BP partner) Potential Kwanza award – BP Potential Kwanza award – Cobalt (BP partner) Potential Kwanza award – Total (BP partner) 17 18 26 Iraq. More recently Sonangol entered into the real estate sector, managing the biggest government real estate project. Deepwater production blocks Our Angola operations include interests in four deepwater production blocks offshore. We are the operator of blocks 18 and 31 and have non-operated interest in blocks 15 and 17. The discovered resource in these blocks is more than 2 billion barrels of oil equivalent net. BP’s operations in Angola are undertaken under a Production Sharing Agreement (PSA) which sets out the terms of engagement with the Angolan government. Angola LNG BP Equity: 13.6% Major Project ANLG (FO 2012) Block 15 Operator: ExxonMobil BP Equity: 26.67% Producing Kiz A & B Mondo (FO 2004) Marimba (FO 2007) Saxi Batuque (FO 2008) Major Projects Clochas Mavacola (FO 2012) Sanction 2011-2016 Kiz Satellites Phase 2 (FO 2015) Block 17 Operator: Total BP Equity: 16.67% Producing Girassol, Jasmin (FO 2001) Dalia, Rosa (FO 2006) Major Projects Pazflor (FO 2011) CLOV (FO 2014) Block percentages (%) Block 15 Block 17 Block 18 Block 31 20 23 13 13 17 10 5 50 40 40 50 27 How we operate 27 BP Sonangol ExxonMobil 20 ENI Total Esso Marathon Statoil Angola AS China Sonangol International Holding Limited Sonangol Sinopec International 20 25 BP in Angola Sustainability Report 2010 9
Page 1 and 2: BP in Angola Sustainability Report
Page 3 and 4: What’s inside? BP Angola’s sust
Page 5 and 6: Building long-term value We are com
Page 7 and 8: Social challenges BP Angola in cont
Page 9: BP’s strategy - Angola and worldw
Page 13 and 14: Operational performance We are work
Page 15 and 16: Developing our people To create a s
Page 17 and 18: Our code of conduct Our aim of havi
Page 19 and 20: Safety management The lessons we ha
Page 21 and 22: workforce has travelled, on average
Page 23 and 24: Environmental management BP Angola
Page 25 and 26: BP Angola’s principal operations
Page 27 and 28: Building capability We work with a
Page 29 and 30: Community project distribution 1996
Page 31 and 32: increase the number of engineering
Page 33 and 34: Acronyms ACEPA Association of Compa
Page 35: Further resources BP communicates n

BP in Angola Sustainability Report 2010 (pdf, 3860KB)

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