BP plc

euro adhoc: BP PLC
BP COMPLETES SALE OF KALTIM PRIMA COAL STAKE TO PT BUMI RESOURCES (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

October 10, 2003

                         BP COMPLETES SALE OF KALTIM PRIMA COAL STAKE TO
                                                 PT BUMI RESOURCES

BP announced today that it has completed the sale of its 50 per cent interest in the Indonesian coal mining company PT Kaltim Prima Coal (KPC) to PT Bumi Resources for $250 million in cash including assumed debt.

PT Bumi Resources, a publicly quoted Indonesian company, has also completed an identical deal with Rio Tinto for their 50 per cent interest in KPC and is therefore now the sole owner of KPC.

The completion of the KPC sale means that BP no longer has any coal interests, its other coal operations having been sold in 1989-90.

Notes to Editors:

· KPC operates a world-class coal mine located near Sangatta in East Kalimantan, Indonesia, which produces around 18 million tonnes of steaming coal per annum.

· KPC directly employs about 2,700 people and contributes around $450 million each year in export revenue to Indonesia.

· BP's advisors on the transaction were JP Morgan (financial) and Linklaters (legal).

                                                         - ENDS -

                                  This information is provided by RNS
                  The company news service from the London Stock Exchange

end of announcement            euro adhoc 10.10.2003
---------------------------------------------------------------------

Further inquiry note: Further information: BP Press Office, London, tel: +44 (0)207 496 4358/4708

Branche: Energy
ISIN:      GB0007980591
WKN:        850517
Index:    
Börsen:  Hamburger Wertpapierbörse / official dealing
              Börse Düsseldorf / official dealing
              Frankfurter Wertpapierbörse / official dealing
              SWX Swiss Exchange / official dealing
              London Stock Exchange / official dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Baden-Württembergische Wertpapierbörse / free trade



Weitere Meldungen: BP plc

Das könnte Sie auch interessieren: