Asia PR News

HOUSTON, Aug. 31 /PRNewswire-AsiaNet/ –

BP America Inc., announced today an oil discovery on an exploration well
which tested the Kaskida prospect in the Gulf of Mexico. The well, located on
Keathley Canyon block 292, is in about 5,860 feet of water, and is about 250
miles southwest of New Orleans. Kaskida was drilled to a total depth of
approximately 32,500 feet in the lower tertiary, and encountered 800 net feet
of hydrocarbon-bearing sands.

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"Appraisal will be required to determine the size and commerciality of the
discovery," said David Rainey, Vice President Gulf of Mexico Exploration. "We
expect to return to Kaskida later this year to commence appraisal activity".

The well is operated by BP Exploration & Production Inc., a wholly owned
subsidiary of BP America Inc., with a 55 percent working interest, and includes
co-owners Anadarko Petroleum Corporation (NYSE: APC) with a 25 percent working
interest, and Devon Energy Corporation (NYSE: DVN) with a 20 percent working
interest. The lease was acquired at federal OCS Lease Sale 187 in August 2003.

BP is one of the world’s largest energy companies, with interests in more
than 100 countries and over 96,000 employees across six continents. BP’s
business segments are Exploration and Production; Refining and Marketing; and
Gas, Power and Renewables which includes its Alternative Energy business.
Through these business segments, BP provides fuel for transportation, energy
for heat and light, retail services, and petrochemicals products.

SOURCE: BP Exploration and Production Inc.

CONTACT: Hugh Depland,
BP Houston,
1+281-366-4092 or

David Nicholas,
BP London,
+44-20-7496-4708

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Web site: http://www.bp.com

(BP)