BP 2013 Annual Report Download - page 211

Movements in estimated net proved reserves
million barrels
Crude oila2013
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe USb
Rest of
North
America Russia
Rest of
Asia
Subsidiaries
At 1 January 2013
Developed 242 170 1,443 – 22 312 – 268 52 2,509
Undeveloped 431 79 989 – 32 255 – 137 45 1,968
673 249 2,432 – 54 567 – 405 97 4,477
Changes attributable to
Revisions of previous estimates (78) (19) (141) – 30 26 – 65 (12) (129)
Improved recovery 12 – 52 – 1 2 – 65 – 132
Purchases of reserves-in-place –––– –––– – –
Discoveries and extensions ––4– –––39 346
Productionc(22) (12) (132) – (11) (80) – (52) (9) (318)
Sales of reserves-in-place (36) – (11) – –––– –(47)
(124) (31) (228) – 20 (52) – 117 (18) (316)
At 31 December 2013d
Developed 169 163 1,297 – 29 320 – 320 57 2,355
Undeveloped 380 55 907 – 45 195 – 202 22 1,806
549 218 2,204 – 74 515 – 522 79 4,161
Equity-accounted entities (BP share)e
At 1 January 2013
Developed – – – – 339 12 2,492 198 – 3,041
Undeveloped – – – – 351 11 1,962 13 – 2,337
– – – – 690 23 4,454 211 – 5,378
Changes attributable to
Revisions of previous estimates – – – 1 (21) (3) 384 1 – 362
Improved recovery ––––27––– –27
Purchases of reserves-in-place – – – – 34 – 4,579 – – 4,613
Discoveries and extensions – – – – 12 – 228 – – 240
Production – – – – (27) – (303) (85) – (415)
Sales of reserves-in-place – – – – (85) – (4,399) – – (4,484)
– – – 1 (60) (3) 489 (84) – 343
At 31 December 2013fg
Developed – – – – 316 10 3,064 120 – 3,510
Undeveloped – – – 1 314 10 1,879 7 – 2,211
– – – 1 630 20 4,943 127 – 5,721
Total subsidiaries and equity-accounted entities (BP share)
At 1 January 2013
Developed 242 170 1,443 – 361 324 2,492 466 52 5,550
Undeveloped 431 79 989 – 383 266 1,962 150 45 4,305
673 249 2,432 – 744 590 4,454 616 97 9,855
At 31 December 2013
Developed 169 163 1,297 – 345 330 3,064 440 57 5,865
Undeveloped 380 55 907 1 359 205 1,879 209 22 4,017
549 218 2,204 1 704 535 4,943 649 79 9,882
aCrude 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.
bProved reserves in the Prudhoe Bay field in Alaska include an estimated 72 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.
cExcludes NGLs from processing plants in which an interest is held of 5,500 barrels per day.
dIncludes 551 million barrels of NGLs. Also includes 21 million barrels of crude oil in respect of the 30% non-controlling interest in BP Trinidad and Tobago LLC.
eVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
fIncludes 131 million barrels of NGLs. Also includes 23 million barrels of crude oil in respect of the 0.47% non-controlling interest in Rosneft.
gTotal proved liquid reserves held as part of our equity interest in Rosneft is 4,975 million barrels, comprising less than 1 mmboe in Vietnam and Canada, 32 million barrels in Venezuela and 4,943 million
barrels in Russia.
Financial statements
BP Annual Report and Form 20-F 2013 207