Disposal

BP PLC
18 June 2001


BP SELLS KASHAGAN STAKE TO TOTALFINAELF


BP announced today that it has sold its 9.5 per cent stake in the Kashagan
discovery to TotalFinaElf (TFE).


Scott Kerr, BP's Kazakhstan Business Unit Leader said: 'We are pleased to have
reached this agreement with TFE.


'Besides being in our own interest, we see our move as entirely helpful and
beneficial to the venture as we believe that consolidation of the minor
interests in the licence group is a positive outcome.


'We remain committed to Kazakhstan with our interest in the Tengiz field and
the CPC (Caspian Pipeline Consortium) pipeline.'


Notes to Editors:


The Kashagan prospect is offshore Kazakhstan in the northern waters of the
Caspian Sea. Two wells have been completed to date.


BP had booked no reserves from Kashagan, nor did it feature in the company's
forward production profile.



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