commiss decis septemb declar concentr compat common market eea agreement case iv bp amoco arco notifi document number english text authent text eea relev ec commiss european commun regard treati establish european commun regard agreement european econom area articl thereof regard council regul eec decemb control concentr undertak amend regul ec articl articl thereof regard commiss decis june initi proceed case regard opinion advisori committe concentr commiss receiv notif pursuant articl regul eec merger regul propos concentr undertak bp amoco plc bpa acquir control mean articl merger regul atlant richfield compani arco decis june commiss found notifi oper rais doubt compat common market initi proceed pursuant articl merger regul parti oper bpa hold compani multin oil explor petroleum petrochem group compris core busi bp amoco explor oil ga explor product bp amoco oil refin market suppli transport bp amoco chemic manufactur market petrochem relat product bp amoco group form result merger british petroleum compani plc amoco corpor establish oper europ unit state america australasia part africa expand presenc asia south america arco involv explor product transport sale crude oil natur ga refin crude oil transport market petroleum product oper number countri venezuela algeria tunisia unit kingdom indonesia bulk activ place usa approxim total turnov ii concentr concentr notifi acquisit sole control mean articl merger regul result bpa acquir sole control arco concentr effect mean share sale achiev arco merg newli establish compani incorpor accord law state delawar usa newco wholli own bpa merger arco newco arco surviv legal entiti point wholli own subsidiari compani bpa result oper bpa acquir ownership entir issu share capit arco iii commun dimens parti combin aggreg worldwid turnov exce eur billion commun wide turnov eur million achiev third aggreg commun wide turnov member state concentr commun dimens pursuant articl merger regul iv assess articl merger regul explor develop product sale crude oil natur ga parti activ explor develop product crude oil natur ga decis initi proceed commiss express doubt market reason competit concern market explor develop product process upstream activ compris type commerci activ find reserv develop commerci exploit reserv find reserv gener quot explor quot develop concern set adequ infrastructur futur product oil platform pipelin termin exploit reserv call quot product sale quot previou commiss decis focus primarili impact notifi transact product sale segment explor develop time capit intens activ includ number success step firstli countri hydrocarbon reserv discov territori countri call quot host countri quot organis bid grant explor licenc bid process vari public auction usa situat bidder preselect host countri preselect base vari extent technic capabl financi strength consider lobbi cultur affin compani bid order spread risk bring complementari skill circumst host countri requir bidder join order licenc explor host countri requir nation oil compani grant share discoveri made block licenc case licenc grant jointli number compani oper block name role oper manag technic financi explor possibl develop product phase project import decis requir unanim partner project total time grant licenc actual product typic rang year year cost explor develop project reach region eur billion project quot frontier area quot split expenditur explor stage develop stage typic mention product start area infrastructur develop includ notabl oil platform pipelin termin smaller field econom develop exploit infrastructur put place bigger field smaller field call quot satellit field quot explor north sea typic process relev product market argu explor develop product sale close interlink distinct product market defin argu explor constitut separ product market argu firm engag explor categori client host countri gener undertaken provid futur flow resourc case oil ga found subsequ produc seller oil ga bui join develop product transfer right block widespread practic industri content underground time explor commiss consid justifi make distinct explor oil explor natur ga develop product sale product market ga crude oil differ applic subject vari price behaviour cost constraint commiss consid stage decis initi proceed defin relev product market develop product sale crude oil relev product market develop product sale natur ga parti contest exist explor market argu close link subsequ step product process make product market explain section effect merger competit apprais effect competit notifi oper defin precis relev product market stage explor develop product sale crude oil natur ga relev geograph market commiss consid explor market worldwid scope agre parti european demand perspect relev geograph market worldwid scope develop product sale crude oil includ eea algeria russia ga commiss examin smaller geograph area constitut relev market purchas ga make secur suppli reason distinct purchas polici origin ga basi perceiv polit risk influenc secur suppli regard russian algerian ga russia account approxim total western european suppli algeria explicit spanish legisl order natur ga demand countri price increas ga produc eea defeat small increas proport ga purchas russia algeria case precis definit relev geograph market left open alter conclus competit assess market player tradition compani involv explor develop product sale busi group categori profil strateg object futur explor develop capabl categori state own opec oecd base compani statoil produc ii quot major quot vertic integr oil compani intern activ iii multitud substanti smaller oil compani integr upstream explor produc competit concern identifi commiss rais fact result notifi transact notifi exxon mobil distinct fourth tier player prevail explor develop activ group quot super major quot compos exxon mobil bp amoco arco shell posit parti market explor wide accept indic basi market share calcul proxi assess market power explor market measur market share carri basi number block licenc grant number block compani oper net acreag total acreag operatorship capit expenditur explor wide agreement proxi base number block acreag reliabl cover wide vari situat basi capit expenditur exxon mobil bp amoco arco shell repres roughli equival share total capit expenditur explor develop product schedul largest player repres averag size main player parti contest adequaci measur market power reason capit expenditur vari site explor bias market share nation oil compani low cost opec area capit expenditur reflect correct share ownership licenc output state compani pai share disproportion lower licenc interest crude oil output thirdli capit expenditur includ expenditur invest ga liquefact infrastructur sum invest pure explor measur market power calcul share expect product compani current explor purchas parti right translat futur product basi market investig combin market share super major opec product year rang product sale bpa arco worldwid product crude oil european product natur ga number combin exxon mobil shell number materi chang year total natur ga product eea super major account natur ga consum eea super major account industri refer proven reserv proxi market power basi parti hold approxim worldwid proven reserv crude oil european wide proven reserv natur ga parti argu proven reserv relev indic futur product proven reserv state oil compani stock function privat compani privat oil compani limit stock mean proven reserv compani replac forese deplet exist oil field remain viabl player market nation oil compani justifi explor develop invest sharehold benefit nation reserv larg exce indic involv upward bia favour nation compani forese futur opec produc collect enjoi substanti market power crude oil product control substanti amount product proven reserv approxim saudi reserv account opec reserv opec number instanc past influenc crude oil price level gazprom sonatrach nation russian algerian supplier account approxim eea sale natur ga reserv account gazprom combin proven reserv sold eea effect merger competit commiss rais doubt effect competit market explor develop product sale crude oil natur ga notifi acquisit exxon mobil merger lead creation fourth tier competitor industri compos bp amoco arco exxon mobil shell paramet retain market capitalis oil ga product proven reserv materi gap super major remain major consid super major futur privileg posit find develop import reserv compar player market increas financi strength enabl hold portfolio risk increas size contrari competitor pick choos area intend activ favour access capit capac spread risk smaller compani want continu develop import field smaller partner super major benefit combin resourc altern nich player focus explor result super major control access explor frontier area time grant licenc surround block super major built infrastructur typic time laps stage explor start product vari year scenario possibl ten year opec reserv product influenc signific extent super major affect product sale market competit constraint limit opec abil function cartel lessen compani interest opec align opec decis limit output level fear advantag translat strengthen opec domin posit crude oil market creation oligopolist structur combin opec super major creat incent align opec commerci strategi opec posit rais sustain price highest price threshold explor trigger basi forego commiss conclud oper rais doubt compat common market function eea agreement explor depth investig parti contest commiss doubt ground super major face competit constraint smaller oil compani host countri control oil ga product case incent oil compani restrict product market investig confirm small explor emerg class super major threaten posit size differ compet type explor right depend bigger explor sell oil addit major chevron texaco elf total unchang capac explor develop field world parti provid numer exampl involv major current project world market investig confirm typic concess contract govern explor produc prohibit limit output leav decis discret govern natur ga parti super major control eea product competit affect market exist view perceiv polit risk attach ga product russia algeria collect domin super major argu view strong posit norwegian ga deliv competitor addit produc natur ga face concentr demand hand nation wholesal ga transmiss compani gaz de franc distrigaz commiss conclud concentr lead creation strengthen domin posit market explor develop product sale crude oil natur ga natur ga transport process concentr rais competit concern market natur ga transport pipelin southern north sea sn ii natur ga process servic sn market market natur ga transport pipelin northern north sea nn dealt relev product market natur ga emerg head product facil stream gaseou hydrocarbon hydrocarbon liquid unprocess ga requir transport pipelin facil process separ gaseou liquid constitu gaseou stream undergo process purif order produc gaseou hydrocarbon meet technic specif carriag transmiss system introduc pipelin qualiti ga produc natur ga carri transport process asset case utilis pipelin offshor onshor ga process facil own undertak bpa view ga transport ga process fall separ product market case ga transport relev product market market transport sea pipelin natur ga case ga process bpa regard relev product market market process natur ga owner ga field requir transport process market ga cheapest combin commiss consid separ transport process market competit condit differ transport process instanc appar market investig combin newli construct pipelin process facil parti access tpa exist pipelin process facil relev geograph market arco interest commun ga transport process infrastructur aris relat infrastructur locat member state unit kingdom item infrastructur type sea ga pipelin interest ga process facil asset locat part uk continent shelf ly east uk mainland eastern uk mainland relev geograph market consist demand perspect owner ga field requir transport process exist newli construct infrastructur form viabl econom altern respect eastern part uk continent shelf divid area nn area north sea ly north latitud sn area north sea ly south latitud bpa consid ga field nn theori process facil sn instanc ga field locat nn seek transport process output nn process facil fact pipelin construct link nn ga field sn process facil ga field sn look past continu futur termin area coastlin adjac sn process output minor extent sn ga field invit bid transport pipelin land netherland appar market investig sn unlik nn construct infrastructur realist altern exist facil sn quot matur ga provinc quot field discov small support construct infrastructur reason bpa consid market process ga market sea pipelin transport ga nn sn separ geograph market arco equiti interest nn ga process market market consid geograph market smaller region defin ampl evid option field limit facil singl locat ga process facil bacton singl locat serv pipelin pipelin servic bacton amoco process plant reason commiss consid ga transport ga process sn nn constitut distinct geograph market posit parti market nn pipelin tabl overview pipelin link nn ga field nn ga process plant parti respect equiti ownership oper miller pipelin transport minim quantiti ga expand recit addit pipelin seal construct link nn ga field sn process facil arco interest pipelin bpa equiti ownership pipelin acro equiti ownership pipelin overlap parti ownership interest pipelin parti interest tabl nn pipelin gt tabl gt ownership interest give parti equiti interest total nomin ga transport capac ga pipelin assum expans miller pipelin mention total expect ga transport throughput mmscfd parti equiti interest pipelin multipli expect actual throughput pipelin market share sn pipelin tabl overview pipelin link sn ga field sn ga process plant dimlington easington theddlethorp bacton set equiti ownership undertak concern oper bpa equiti ownership pipelin arco equiti ownership pipelin parti ownership overlap pipelin parti interest tabl sn pipelin gt tabl gt ownership interest give parti equiti interest total nomin ga transport capac ga pipelin oper total expect ga transport throughput mmscfd parti equiti interest pipelin multipli expect actual throughput pipelin market share british ga market share conoco sn ga process tabl list sn ga process facil parti respect ownership interest oper parti interest facil bpa arco overlap ownership interest give parti equiti interest total nomin sn ga process capac arco total expect ga process throughput parti equiti interest process facil multipli expect actual throughput facil market share tabl sn ga process gt tabl gt conoco exxon shell competit assess kei element oper uk pipelin process facil unanim agreement requir owner infrastructur regard major decis includ condit parti access infrastructur main competit concern aris interest infrastructur possibl infrastructur owner constrain develop compet ga field posit individu compani depend equiti capac share total capac spare capac infrastructur interest increas ownership result concentr infrastructur endow bpa greater influenc pipelin exist prior concentr nn pipelin pipelin oper disregard miller seal pipelin construct bpa interest arco interest pipelin account half total capac come year spare capac nn pipelin competit constraint owner ga field depend equiti interest owner nn pipelin context procedur equiti interest bpa arco domin posit market competit constraint fundament chang fact pipelin oper seal pipelin arco interest miller pipelin owner bpa conoco enterpris plan reach capac level mmcfd account total capac seal pipelin accommod transport ga resourc newli develop ga field miller capac target accommod transport parti ga transact result chang market power merg entiti vi vi owner ga field seal pipelin arco interest accommod transport ga owner ga field word notifi oper lead creation strengthen domin posit sn pipelin result transact bpa achiev equiti interest exist pipelin total capac pipelin parti interest account greater total capac appar market investig pipelin parti equiti interest limit spare capac bpa posit control access pipelin transport field area control pipelin free capac area sn quot matur ga provinc quot larg field discov infrastructur built commiss conclud concentr lead creation domin posit sn pipelin transport market bpa posit detriment owner small ga field high transport tariff offer limit transport servic bpa argu market power sn pipelin market consequ concentr sn matur ga provinc plenti capac exist pipelin ii infrastructur built iii industri custom exist bpa exercis equiti right piec compet pipelin infrastructur commiss accept argument reason commiss recognis capac underutilis sn pipelin sever competit expect pipelin field gener smaller origin field negoti parti access order attract addit transport tariff incom appar market investig pipelin parti interest limit spare capac bpa recognis major ga pipelin construct sn surpris field develop recent sn area satellit field previous develop larger field expect larg field discov pipelin expect construct expect cashflow satellit field small recov invest need construct dedic pipelin fact field gener develop guarante tpa pipelin process facil thirdli parti refer quot step quot custom uk oil ga industri pipelin compani interest compet compani abstain exercis vote pipelin consortia bpa argu prevent exercis veto divert ga bacton amoco line bacton leman line step custom gener recognit fact compani time find posit conflict interest hold ownership interest infrastructur competit submit offer transport process servic potenti user rare step oblig contain contract document relat ownership piec infrastructur custom establish uk oil ga industri bpa believ due observ step custom import factor compli principl discrimin contain offshor infrastructur code practic avoid sanction uk domest law section petroleum act section ga act offshor infrastructur code practic issu uk govern depart trade industri code adopt owner offshor oil ga transport infrastructur aim ensur object transpar process make infrastructur parti user section petroleum act legal basi uk author requir grant parti access oil ga pipelin reason term initi refus infrastructur owner section ga act legal basi uk author requir grant parti access ga process facil reason term initi refus facil owner market investig confirm exist step custom parti step custom part voluntari code practic respect custom reli sole unilater behaviour compani concern futur behaviour bpa constrain voluntari commit custom necessarili enforc accept step custom reflect code practic turn enforc uk author suffici commiss assess concentr pursuant stringent criteria articl merger regul accept presenc regul function monitor sanction behaviour compani question justifi conclus domin posit creat commiss consid concentr creat domin posit sn ga pipelin market sn ga process parti consequ concentr interest ga process facil servic sn sector addit share exist capac actual throughput excess facil parti interest limit spare capac peak time hand facil parti interest spare capac excess peak time merg entiti posit control access field view sole ownership facil share ownership facil control result unanim requir facil free capac peak time termin bacton bpa particip free offer spare capac parti account total capac bpa own total capac termin free capac termin owner amount total capac addit exclud bpa view oper termin reduc avail free capac argument made bpa regard sn pipelin made sn process market reason express accept concentr creat domin posit sn ga process market commit propos parti commit bpa commit commiss divest equiti interest arco hold piec sn ga transport process infrastructur equiti interest divest purchas approv commiss addit bpa commit reacquir asset commiss prior approv full text undertak annex assess divestitur bpa interest held arco pipelin process facil bpa interest mean competit situat bpa concentr sn pipelin process facil tpa accord basi unanim agreement owner competit situat depend number pipelin compani interest total spare capac pipelin divestitur equiti interest quot addit quot infrastructur elimin overlap relev market bpa arco commiss conclud consequ commit creation domin posit relev market vi conclus regard articl merger regul commiss conclud commit bpa suffici remov doubt identifi decis initi proceed subsequ investig oper relat articl merger regul oper subject condit full complianc commit annex compat common market eea agreement adopt decis articl subject condit full complianc commit regard divestitur piec sn ga transport process infrastructur set annex concentr notifi bp amoco plc relat acquisit control atlant richfield compani declar compat common market eea agreement articl decis address bp amoco plc britann hous finsburi circu london ec ba unit kingdom brussel septemb commiss mario monti member commiss oj correct version oj oj oj commiss decis decemb case iv british petroleum amoco corpor turnov calcul accord articl merger regul commiss notic calcul turnov oj extent figur includ turnov period januari calcul basi averag ecu exchang rate translat eur basi commiss decis case iv arco union texa oj commiss decis case iv elf enterpris oj commiss decis case iv elf occident oj part text edit ensur confidenti inform disclos part enclos squar bracket price crude oil trade market significantli influenc mere announc opec meet arco interest shore product field section refer capac base actual capac market player refer constitut busi secret respect player meaningfulli summaris confidenti manner namepl capac infrastructur publicli proven reliabl indic market million metric standard cubic foot dai defin unus capac infrastructur origin actual ga throughput equiti ga owner infrastructur ga tpa agreement conclud annex undertak present bp amoco plc pursuant articl regul eec view elimin competit concern definit undertak quot abl quot mean arco british limit wholli own subsidiari arco quot approv date quot mean date decis issu commiss pursuant articl regul ec declar concentr bpa arco compat common market subject bpa compli undertak set absenc decis date pursuant articl regul concentr deem declar compat common market quot arco quot mean atlant richfield compani quot bpa quot mean bp amoco plc quot bp amoco affili quot mean compani purpos articl council regul ec bpa possibl exercis decis influenc quot commiss quot mean commiss european commun quot merger agreement quot mean agreement plan merger date march made bpa arco prairi hold quot nomine quot mean person appoint bpa pursuant paragraph case quot relev asset quot mean divest relev asset relat matter bpa undertak commiss procur abl time transfer legal titl relev asset purchas approv commiss commiss prior approv reacquir procur bp amoco affili commiss prior approv reacquir relev asset provid dai date bpa send written request commiss seek approv commiss written notic bpa deni approv commiss deem approv time concentr complet date commiss reason ground suspect bpa fail compli dilig undertak paragraph commiss power appoint truste date abl transfer legal titl relev asset purchas approv commiss bpa appoint truste appoint truste pursuant paragraph effect mandat truste appoint appendix hereto date approv date bpa submit commiss person independ bpa bpa consid view person knowledg experi act bpa nomine nomine purpos particip concentr complet date discuss owner equiti interest relev asset exercis abl vote meet oper committe relev asset regard case transport process relev asset ga own parti equiti interest relev asset question commiss reject submit bpa pursuant paragraph bpa dai receiv written notic reject submit altern person act nomine provid dai date bpa submit person act nomine pursuant paragraph pursuant paragraph commiss fail give bpa written notic reject person name person deem approv commiss act nomine event commiss reason ground reject individu propos consecut bpa act nomine commiss altern individu requisit degre knowledg experi act nomine dai commiss bpa appoint person nomine reason ground commiss consid nomine fail carri dilig mandat commiss entitl give written notic thereof bpa event person appoint accord procedur paragraph mutati mutandi act nomine nomine mandat ensur period commenc concentr complet date end date legal titl relev asset transfer purchas approv commiss abl right oper agreement similar relat transport process relev asset ga own parti equiti interest relev asset exercis interest relev asset question addit forego nomine time time frequent month provid written report commiss progress discharg nomine mandat notic commun notic written commun commiss bpa requir relat undertak contain includ appendix hereto facsimil overnight courier number address commiss facsimil courier commiss european commun dgiv avenu de cortenbergh kortenberglaan brussel belgium mark attent director charg merger control bpa facsimil courier bp amoco legal bp amoco plc britann hous finsburi circu london ec ba unit kingdom mark attent juan rodriguez solicitor notic commun facsimil deem receiv dai time transmiss report issu facsimil unit notic commun time countri receipt dai work dai countri receipt event notic commun deem receiv work dai countri receipt notic commun overnight courier deem receiv dai time acknowledg receipt individu effect deliveri time countri receipt dai work dai countri receipt event notic commun deem receiv work dai countri receipt report approv purchas relev asset bpa promptli inform commiss materi develop includ limit ident propos purchas relev asset relat complianc bpa undertak set month period commenc approv date end time legal titl relev asset transfer purchas approv commiss send commiss written report describ current statu divest process relat relev asset time bpa notic commiss ident propos purchas relev asset bpa includ notic inform bpa possess regard matter point iv paragraph commiss endeavour inform bpa dai receiv notic pursuant paragraph suitabl propos purchas relev asset commiss determin propos purchas suitabl account prospect purchas concern appear possess statu resourc relev asset question viabl competitor bpa ii independ bpa iii shown signific relev commerci connect bpa call question independ bpa iv obtain approv relev competit author regulatori author european commun end dai receiv notic pursuant paragraph commiss bpa written notic reject propos purchas reason detail reason reject propos purchas name notic deem approv commiss suitabl purchas relev asset question durat undertak undertak bpa automat laps time merger agreement termin pursuant articl thereof reason propos concentr bpa arco proce abandon appendix commiss decid exercis power refer paragraph request bpa propos commiss dai bpa receiv notif request name experienc invest bank similar institut independ bpa bpa consid appoint truste relev date concentr complet date abl transfer legal titl relev asset purchas approv commiss bpa seventh dai relev date concentr complet date propos commiss name experienc invest bank similar institut independ bpa bpa consid appoint truste commiss discret approv reject name submit bpa pursuant paragraph appendix save dai date bpa submit name commiss bpa written notic commiss reject institut name bpa institut deem approv commiss pursuant forego approv bpa appoint institut concern truste approv bpa free choos truste appoint name approv name submit pursuant paragraph appendix reject bpa submit name institut quot name quot dai inform reject approv commiss deem approv commiss fail dai receiv name bpa written notic commiss reject bpa appoint institut concern truste approv bpa free choos truste appoint name approv name reject commiss commiss nomin truste appoint bpa commiss approv name submit nomin truste bpa appoint truste concern dai truste mandat compris function monitor bpa mainten viabil market relev asset relev asset oper normal busi consist statu monitor satisfactori discharg bpa oblig undertak paragraph save truste appoint pursuant paragraph addit duti form part mandat requir appoint transfer legal titl relev asset purchas approv commiss truste monitor advis commiss adequaci procedur select purchas purchas relev asset conduct negoti purchas ii monitor advis commiss agreement enter purchas relev asset properli provid divestitur relev asset provid undertak paragraph provid written report quot truste report quot commiss progress discharg truste mandat identifi respect unabl discharg mandat report provid regular monthli interv commenc month date appoint time time period commiss time term truste appoint commiss reason ground believ undertak paragraph properli compli request truste carri addit function quot request quot truste mandat deem extend save event conflict initi function paragraph appendix truste give prioriti discharg addit function ensur relev asset oper normal busi consist statu ensur proper divest relev asset truste report event month notifi request submit commiss propos method timescal propos truste divestitur accord undertak paragraph relev asset event commiss practic approv propos requir truste report negoti enter prospect purchas provid commiss suffici inform enabl commiss decid suitabl purchas question break negoti prospect purchas instruct bpa break negoti appear commiss negoti concern conduct unsuit purchas submit commiss approv agreement sale purchas relev asset agreement uncondit purchas seller irrevoc approv requir commiss approv requir author person bpa undertak provid truste assist inform includ copi relev document requir carri mandat pai reason remuner servic bpa announc propos concentr bpa arco irrevoc abandon truste mandat deem discharg appoint forthwith termin