Accenture and BP Announce Renewal of Finance and Administrative Outsourcing Agreement for Alaskan Operations

Anchorage and New York, September 13, 2000: Accenture and BP (NYSE: BP) will renew and expand the finance and administrative (F&A) services that Accenture provides to BP’s exploration, production and pipeline operations in Alaska under the terms of a $100 million agreement announced today.

Under the 10-year agreement, which is the latest in a series of outsourcing arrangements between the two companies, Accenture will continue to provide F&A services to BP’s exploration, production and pipeline operations in Alaska, with expanded service to support the Prudhoe Bay Eastern Operating Area where BP assumed operatorship recently. Accenture’s Anchorage office and its Senergy Business Center (SBC) in Houston will provide the services, which include accounts payable, general accounting, treasury, financial analysis and consolidated reporting.

"BP’s decision to renew and expand the service demonstrates the success of the original agreement" said Tom Blackwell, General Manager of BP’s Business Unit Resources. "This agreement demonstrates Accenture’s commitment to provide high quality, cost effective business process services to the exploration and production business of BP in Alaska and around the globe" said D. Michael Rappeport, Accenture’s Client Partner for BP in Alaska.

This new Alaskan agreement between BP and Accenture follows January’s announcement of a 10-year, $200 million contract - the largest-ever downstream energy F&A services outsourcing deal in the United States. In a June, 1999 announcement, Accenture was awarded a 5-year, $100 million contract to extend its F&A outsourcing arrangement with BP in the UK and Norway.

About BP

BP is one of the world’s largest energy companies, with more than 100,000 employees and operations in more than 100 countries. BP’s mission is to deliver to consumers the energy they need in a way that minimizes the impact of the company’s products and operations on the environment. BP’s primary businesses are exploration and production of crude oil and natural gas, refining, marketing, supply and transportation; and manufacturing and marketing of petrochemicals. BP is emerging as a major player in the global gas and power business, and is also the world’s largest producer of photovoltaics. In Alaska, BP’s 1,450 employees are responsible for production of 800,000 barrels of oil per day.