BP PLC - Statement re Thunder Horse.

(From AFX CNF)

RNS Number:1138J BP PLC 18 September 2006 BP SAYS THAT REPAIR OF SUBSEA EQUIPMENT WILL DELAY THUNDER HORSE UNTIL 2008 Following a series of tests carried out over the past four months that revealed metallurgical failure in components of the subsea system, BP announced today that it plans to retrieve and rebuild all the sea-bed production equipment from its Thunder Horse field in the deepwater Gulf of Mexico. BP said the problem became evident when it conducted pre-commissioning tests by pumping water through the system to establish system integrity. The equipment passed all the normal industry standard tests and regulatory requirements. But when the …