Peter Low's questions to BP PLC (BP) leadership • Q4 2024
Question
Peter Low from Redburn asked about the strategic attractiveness of recent upstream announcements, specifically the deal with ONGC in India and the Kirkuk redevelopment in Iraq, and the potential returns from these technical service-style contracts.
Answer
CEO Murray Auchincloss highlighted BP's strong track record in late-life field developments as the enabler for these opportunities. He described the ONGC deal as a capital-light services contract with attractive returns for both parties. For Kirkuk, he noted it's in final negotiations for a competitive PSA, leveraging BP's established in-country track record.