BP 2011 Annual Report Download - page 277

Financial statements
BP Annual Report and Form 20-F 2011 275
Supplementary information on oil and natural gas (unaudited)
Movements in estimated net proved reserves continued
billion cubic feet
Natural gasa2009
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe US
Rest of
North
America Russia
Rest of
Asia
Subsidiaries
At 1 January 2009
Developed 1,822 61 9,059 659 3,316 1,050 –1,102 1,887 18,956
Undeveloped 582 402 5,473 468 7,434 1,382 –1,308 4,000 21,049
2,404 463 14,532 1,127 10,750 2,432 –2,410 5,887 40,005
Changes attributable to
Revisions of previous estimates (114) (8) 549 43 322 270 –(231) 22 853
Improved recovery 34 –550 5322 49 –82 75 1,117
Purchases of reserves-in-place 159 ––––––31 –190
Discoveries and extensions 150 –496 94 105 59 – – 531 1,435
Productionb(243) (9) (907) (100) (929) (249) –(241) (189) (2,867)
Sales of reserves-in-place (118) –(4) ––––(223) –(345)
(132) (17) 684 42 (180) 129 –(582) 439 383
At 31 December 2009c
Developed 1,602 49 9,583 716 3,177 1,107 –1,579 3,219 21,032
Undeveloped 670 397 5,633 453 7,393 1,454 –249 3,107 19,356
2,272 446 15,216 1,169 10,570 2,561 –1,828 6,326 40,388
Equity-accounted entities (BP share)e
At 1 January 2009
Developed ––––1,498 –1,560 176 –3,234
Undeveloped ––––1,023 182 653 111 –1,969
––––2,521 182 2,213 287 –5,203
Changes attributable to
Revisions of previous estimates ––––(26) (17) 204 (19) –142
Improved recovery ––––314 – 1 4 – 319
Purchases of reserves-in-place ––––––––––
Discoveries and extensions ––––6–23 – – 29
Productionb––––(165) –(219) (25) –(409)
Sales of reserves-in-place ––––(388) – – (154) –(542)
––––(259) (17) 9(194) –(461)
At 31 December 2009d
Developed ––––1,252 –1,703 80 –3,035
Undeveloped ––––1,010 165 519 13 –1,707
––––2,262 165 2,222 93 –4,742
Total subsidiaries and equity-accounted entities (BP share)
At 1 January 2009
Developed 1,822 61 9,059 659 4,814 1,050 1,560 1,278 1,887 22,190
Undeveloped 582 402 5,473 468 8,457 1,564 653 1,419 4,000 23,018
2,404 463 14,532 1,127 13,271 2,614 2,213 2,697 5,887 45,208
At 31 December 2009
Developed 1,602 49 9,583 716 4,429 1,107 1,703 1,659 3,219 24,067
Undeveloped 670 397 5,633 453 8,403 1,619 519 262 3,107 21,063
2,272 446 15,216 1,169 12,832 2,726 2,222 1,921 6,326 45,130
a 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 Includes 195 billion cubic feet of natural gas consumed in operations, 164 billion cubic feet in subsidiaries, 31 billion cubic feet in equity-accounted entities and excludes 16 billion cubic feet of produced
non-hydrocarbon components which meet regulatory requirements for sales.
c Includes 3,068 billion cubic feet of natural gas in respect of the 30% minority interest in BP Trinidad and Tobago LLC.
d Includes 131 billion cubic feet of natural gas in respect of the 5.79% minority interest in TNK-BP.
e Volumes of equity-accounted entities include volumes of equity-accounted investments of those entities.