BP : Rowan Joe Douglas joins bpTT rig fleet

BP Trinidad and Tobago LLC (bpTT) today announced that the Joe Douglas 240C jack up rig, owned and operated by Rowan Companies, has joined the bpTT rig fleet and has begun drilling at the bpTT Amherstia facility.

BPTT Regional President Norman Christie commented: 'The Joe Douglas rig is a welcome addition to the bpTT rig fleet. It represents an opportunity to access more hydrocarbons from our existing acreage in the Columbus Basin, and is a demonstration of our continued commitment to Trinidad and Tobago.'

The Joe Douglas rig previously worked for another operator in Trinidad and was moored in Chaguaramas for approximately 45 days where it underwent maintenance. After completion of the maintenance work, the rig was moved to the offshore location alongside the Amherstia platform located off the south east coast of Trinidad, where it commenced drilling operations in October.

This is the first time a jack-up rig will work alongside the Amherstia facility and will drill three new wells, with the potential for a fourth. The expected gas output from these three wells is approximately 235 million standard cubic feet a day (mmscfd).

The Rowan Joe Douglas rig joins the bpTT rig fleet of Rowan EXL II (currently alongside the Mango platform) and Diamond Ocean Victory (currently completing the Juniper wells).

About Rowan Joe Douglas rig

• Type of rig: LeTourneau Technologies 240-C Class Jack-Up.
• Year in service: 2011.
• Maximum water depth: 350 ft.
• Maximum drilling depth: 35,000 ft.
• Quarters accommodation (POB): 108 persons.

Notes to editors

BPTT operates in 904,000 acres off Trinidad's east coast. BPTT has 13 offshore platforms and two onshore processing facilities.

Further information

Danielle Jones, bpTT: +1 868 497-4747
Luis Araujo, bpTT: +1 868 793-3374
Elyse Guevara-Harris, bpTT: +1 868 740 2766

Cautionary statement

In order to utilize the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 (the 'PSLRA'), BP is providing the following cautionary statement. This press release contains certain forward-looking statements concerning BP's Egyptian concessions, including plans and expectations regarding future production levels and the timing thereof; plans and expectations regarding the drilling of additional wells in the Ras El Barr and Temsah areas; and plans and expectations regarding the use of existing infrastructure and the effects thereof. Actual results may differ from those expressed in such statements, depending on a variety of factors including changes in public expectations and other changes to business conditions; the timing, quantum and nature of divestments; the receipt of relevant third-party and/or regulatory approvals; future levels of industry product supply; demand and pricing; OPEC quota restrictions; PSA effects; operational problems; regulatory or legal actions; economic and financial conditions generally or in various countries and regions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; exchange rate fluctuations; development and use of new technology; the success or otherwise of partnering; the actions of competitors, trading partners and others; natural disasters and adverse weather conditions; changes in public expectations and other changes to business conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed under 'Principal risks and uncertainties' in our Stock Exchange Announcement for the period ended 30 June 2016 and under 'Risk factors' in our Annual Report and Form 20-F 2015.

This press release contains references to non-proved resources and production outlooks based on non-proved resources that the SEC's rules prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosures in our Form 20-F, SEC File No. 1-06262. This form is available on our website at www.bp.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or by logging on to their website at www.sec.gov.