BP 2011 Annual Report Download - page 276

274 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 oila2009
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 2009
Developed 410 81 1,717 11 47 464 –195 56 2,981
Undeveloped 119 194 1,273 155 496 –488 58 2,684
529 275 2,990 12 102 960 –683 114 5,665
Changes attributable to
Revisions of previous estimates 7(1) 165 218 (121) –(128) 3(55)
Improved recovery 42 782 – 7 32 –31 2203
Purchases of reserves-in-place 1––––––1–2
Discoveries and extensions 184 –73 – – 114 – – 7 378
Productionb(61) (14) (237) (2) (22) (109) –(45) (11) (501)
Sales of reserves-in-place (8) ––––––(26) –(34)
165 (8) 83 – 3 (84) –(167) 1(7)
At 31 December 2009c
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
Equity-accounted entities (BP share)f
At 1 January 2009
Developed ––––399 –2,227 499 –3,125
Undeveloped ––––409 11 944 199 –1,563
––––808 11 3,171 698 –4,688
Changes attributable to
Revisions of previous estimates ––––2(2) 590 (28) –562
Improved recovery ––––50 – 8 – – 58
Purchases of reserves-in-place ––––––––––
Discoveries and extensions ––––3–87 – – 90
Production ––––(37) –(307) (71) –(415)
Sales of reserves-in-place ––––(14) – – (116) –(130)
––––4(2) 378 (215) –165
At 31 December 2009d
Developed ––––407 –2,351 363 –3,121
Undeveloped ––––405 91,198 120 –1,732
––––812 93,549 483 –4,853
Total subsidiaries and equity-accounted entities (BP share)
At 1 January 2009
Developed 410 81 1,717 11 446 464 2,227 694 56 6,106
Undeveloped 119 194 1,273 1464 507 944 687 58 4,247
529 275 2,990 12 910 971 3,171 1,381 114 10,353
At 31 December 2009
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
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 26 thousand barrels per day.
c Includes 819 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.
d Includes 20 million barrels of NGLs. Also includes 243 million barrels of crude oil in respect of the 6.86% minority interest in TNK-BP.
e Proved reserves in the Prudhoe Bay field in Alaska include an estimated 68 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.