BP 2007 Annual Report Download - page 181

BP ANNUAL REPORT AND ACCOUNTS 2007 179
Supplementary information on oil and natural gas continued
Movements in estimated net proved reserves 2006
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Crude oilamillion barrels
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Rest of Rest of Asia
UK Europe US Americas Pacific Africa Russia Other Total
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Subsidiaries
At 1 January 2006
Developed 496 225 1,984 215 70 142 – 69 3,201
Undeveloped 184 86 1,429 286 95 536 – 543 3,159
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680 311 3,413 501 165 678 – 612 6,360
Changes attributable to
Revisions of previous estimates (3) (11) (108) (9) – 2 – 16 (113)
Purchases of reserves-in-place ––––––––
Discoveries and extensions 3 – 48 – 1 67 – – 119
Improved recovery 26 9 95 13 4 22 – – 169
Productionb(92) (23) (178) (39) (17) (64) – (58) (471)
Sales of reserves-in-place (10)–(62)(99)––––(
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(76) (25) (205) (134) (12) 27 – (42) (467)
At 31 December 2006c
Developed 458 189 1,916 130 67 193 – 88 3,041
Undeveloped 146 97 1,292 237 86 512 – 482 2,852
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604 286 3,208e367 153 705 – 570 5,893
Equity-accounted entities (BP share)
At 1 January 2006
Developed – – – 207 1 – 1,688 590 2,486
Undeveloped – – – 124 – – 431 164 719
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– – – 331 1 – 2,119 754 3,205
Changes attributable to
Revisions of previous estimates – – – (2) – – 1,215 (8) 1,205
Purchases of reserves-in-place –––28––––
Discoveries and extensions –––1––––
Improved recovery –––34––––
Production – – – (28) – – (320) (63) (411)
Sales of reserves-in-place – – – (4) – – (170) – (174)
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–––29––725(71)
At 31 December 2006d
Developed – – – 221 1 – 2,200 520 2,942
Undeveloped – – – 139 – – 644 163 946
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– – – 360 1 – 2,844 683 3,888
aCrude oil includes natural gas liquids (NGLs) and condensate. Proved reserves exclude royalties due to others, whether payable in cash or in kind where the royalty owner
has a direct interest in the underlying production and the option to make lifting and sales arrangements independently.
bExcludes NGLs from processing plants in which an interest is held of 55 thousand barrels a day.
cIncludes 779 million barrels of NGLs. Also includes 23 million barrels of crude oil in respect of the 30% minority interest in BP Trinidad and Tobago LLC.
dIncludes 28 million barrels of NGLs. Also includes 179 million barrels of crude oil in respect of the 6.29% minority interest in TNK-BP.
eProved reserves in the Prudhoe Bay field in Alaska include an estimated 81 million barrels upon which a net profits royalty will be payable over the life of the field under the
terms of the BP Prudhoe Bay Royalty Trust.
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171)
28
1
34
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