BP SHAFAG-ASIMAN LIMITED

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  —

  Not reported

• Cash

  —

  Not reported

• Net assets

  +109,456.1%

  £305,444 → £334,632,488

• Employees

  —

  Not reported

• Operating profit

  +31.6%

  -£2,515,380 → -£1,720,761

• Profit before tax

  +29.3%

  -£2,930,301 → -£2,071,252

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. BP SHAFAG-ASIMAN LIMITED 2011-07-12 → present
2. BP SHAFAG ASIMAN LIMITED 2011-04-11 → 2011-07-12

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. The current economic and geopolitical environment were considered as part of the going concern assessment. Liquidity and financing are managed within the bp group under pooled group-wide arrangements which include the company. As part of the going concern basis of preparation for the company, the ability and intent of the bp group to support the company has also been taken into consideration. The most recent bp group financial statements continue to be prepared on a going concern basis. Forecast liquidity of the bp group has been assessed under a number of stressed scenarios, including a significant decline in oil prices over the 12-month period from the date these financial statements were approved. Reverse stress tests performed indicated that the bp group will continue to operate as a going concern for at least 12 months from the date of approval of the financial statements even if the Brent price fell to zero. In addition, bp group management have confirmed the existing intra-group funding and liquidity arrangements as currently constituted are expected to continue for the foreseeable future, being no less than twelve months from the approval of these financial statements. No material uncertainties over going concern or significant judgements or estimates on the assessment were identified. Accordingly, the company will be able to draw on support from the bp group for the foreseeable future and these financial statements have therefore been prepared on a going concern basis.”

Group structure

1. BP SHAFAG-ASIMAN LIMITED · parent
   1. BP Exploration (Shafag-Asiman) Limited 100% · Operator of the Shafag-Asiman EDPSA

Significant events

• “The extension of the Shafag-Asiman exploration period until 30 June 2030 has been verbally agreed with SOCAR Oil Affiliate (SOA) and TPAO. This extension forms part of the equity transfer arrangement, under which bp and SOA will each transfer 15% equity to TPAO, enabling it to acquire a 30% interest in the Shafag-Asiman PSA. The farmout agreements for the equity transfer were executed on 3 June 2025, with completion of the transaction targeted for 30 June 2025 along with grant for extension of exploration period.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

1

last 24 months

Officers appointed

3

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.