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BP’s Browne Pledges $15 Billion to GOM Deepwater Development

BP CEO Lord Browne said Thursday that the company expects to spend at least $15 billion during the next ten years on deepwater natural gas and oil exploration, development and production activities in the Gulf of Mexico. Speaking at the Houston Forum, Browne said the bulk of expenditures will be spent drilling wells and developing fields that have already been discovered.

August 2, 2002