Disposal

BP PLC
19 October 2004


press release

October 19, 2004

                     BP SEEKS TO SELL ORMEN LANGE INTERESTS

BP announced today that it is seeking offers for its interests in the Ormen
Lange gas field, offshore Norway, and related gas export pipeline. The company
hopes to reach agreement on a sale by the end of 2004 with completion early in
2005.

BP's Norwegian subsidiary, BP Norge, holds a 10.34 per cent equity interest in
the Ormen Lange field and a 10.2 per cent participating interest in the Langeled
pipeline system.

Scott Kerr, managing director BP Norge, said: 'BP holds a non-strategic,
non-operating minority stake in the Ormen Lange field and we prefer to use our
resources in projects that are strategic for BP.'

The Ormen Lange field, discovered in 1997, is the second largest gas field on
the Norwegian continental shelf. The field is located 120 kilometres off the
west coast of Norway, covering an area of 350 square kilometres in water depths
of 800-1200 metres. The field's development plan is based on 14 trillion cubic
feet (397 billion cubic metres) of gas resources.

Gas from the field will be exported to UK and European markets via the new 1200
kilometre Langeled pipeline.

Development of the field was approved by the Norwegian parliament in April 2004
and first production is expected in 2007.

JPMorgan Chase & Co have been retained by BP to advise on the planned sale.

Notes to editors:

• The partners in the Ormen Lange development are: Norsk Hydro
(18.07 per cent and development phase operator), Shell (17.04 per cent and
production phase operator), Petoro (36.48 per cent), Statoil (10.84 per cent),
BP Norge (10.34 per cent) and Exxon Mobil (7.23 per cent).

Further information:

Jan Erik Geirmo, BP Norge press spokesman: [phone].
Olav Fjellsa, manager Government & Public Affairs, BP Norge: [phone].
David Nicholas, BP press office, London: [phone].

                                    - ENDS -




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