Deepwater GOM new focus of BP growth strategy

08/19/2002
The deepwater Gulf of Mexico will serve as the "central element" of BP PLC's growth strategy in the medium and long term, according to BP Chief Executive John Browne.The company intends to spend close to $15 billion on its deepwater gulf operations during the next decade, Browne noted in a talk to the Houston Forum earlier this month. Most of this will be spent drilling wells and developing fields that have already been discovered, he added.Also, oil and gas companies, like many US corporations within other industries, are going to have to work very hard to reestablish public trust, Browne claimed. The public's trust in companies has deteriorated in recent months due to investigat...
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