BP 2011 Annual Report Download - page 272

270 BP Annual Report and Form 20-F 2011
Supplementary information on oil and natural gas (unaudited)
Movements in estimated net proved reserves continued
million barrels
Crude oila2010
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe USe
Rest of
North
America Russia
Rest of
Asia
Subsidiaries
At 1 January 2010
Developed 403 83 1,862 11 49 422 –182 58 3,070
Undeveloped 291 184 1,211 156 454 –334 57 2,588
694 267 3,073 12 105 876 –516 115 5,658
Changes attributable to
Revisions of previous estimates 20 3(45) 1(1) (62) –(62) –(146)
Improved recovery 100 9133 –17 14 –145 3421
Purchases of reserves-in-place –33 6 – – – – 38 –77
Discoveries and extensions 31 180 – – 19 –––131
Productionb j (50) (15) (211) (2) (19) (87) –(43) (12) (439)
Sales of reserves-in-place – – (117) (11) –(15) –––(143)
101 31 (154) (12) (3) (131) –78 (9) (99)
At 31 December 2010c g
Developed 364 77 1,729 –44 371 –269 48 2,902
Undeveloped 431 221 1,190 –58 374 –325 58 2,657
795 298 2,919 –102 745 –594 106 5,559
Equity-accounted entities (BP share)f
At 1 January 2010
Developed ––––407 –2,351 363 –3,121
Undeveloped ––––405 91,198 120 –1,732
––––812 93,549 483 –4,853
Changes attributable to
Revisions of previous estimates – – – – 4 3 248 (20) –235
Improved recovery ––––33 –269 – – 302
Purchases of reserves-in-place ––––– –––––
Discoveries and extensions ––––1 ––––1
Production ––––(35)i k –(313) (69) –(417)
Sales of reserves-in-place – – – – – – (3) – – (3)
– – – – 3 3 201 (89) –118
At 31 December 2010d
Developed ––––408 –2,388 370 –3,166
Undeveloped ––––407 12 1,362 24 –1,805
––––815h12 3,750 394 –4,971
Total subsidiaries and equity-accounted entities (BP share)
At 1 January 2010
Developed 403 83 1,862 11 456 422 2,351 545 58 6,191
Undeveloped 291 184 1,211 1461 463 1,198 454 57 4,320
694 267 3,073 12 917 885 3,549 999 115 10,511
At 31 December 2010
Developed 364 77 1,729 –452 371 2,388 639 48 6,068
Undeveloped 431 221 1,190 –465 386 1,362 349 58 4,462
795 298 2,919 –917 757 3,750 988 106 10,530
a Crude oil includes 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 and ability to make lifting and sales arrangements independently.
b Excludes NGLs from processing plants in which an interest is held of 29 thousand barrels per day.
c Includes 643 million barrels of NGLs. Also includes 22 million barrels of crude oil in respect of the 30% minority interest in BP Trinidad and Tobago LLC.
d Includes 18 million barrels of NGLs. Also includes 254 million barrels of crude oil in respect of the 7.03% minority interest in TNK-BP.
e Proved reserves in the Prudhoe Bay field in Alaska include an estimated 78 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.
f Volumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
g Includes 70 million barrels relating to assets held for sale at 31 December 2010. Amounts by region are: 6 million barrels in US; 30 million barrels in South America; and 34 million barrels in Rest of Asia.
h Includes 213 million barrels relating to assets held for sale at 31 December 2010.
i Includes 2 million barrels of crude oil sold relating to production since classification of equity-accounted entities as held for sale.
j Includes 15 million barrels of crude oil sold relating to production from assets held for sale at 31 December 2010. Amounts by region are: 2 million barrels in US; 6 million barrels in South America; and
7 million barrels in Rest of Asia.
k Includes 9 million barrels of crude oil sold relating to production from assets held for sale at 31 December 2010.