BP 2013 Annual Report Download - page 215

Movements in estimated net proved reserves – continued
million barrels
Crude oila2012
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 2012
Developed 288 69 1,685 – 27 311 – 177 59 2,616
Undeveloped 445 230 1,173 – 48 315 – 279 47 2,537
733 299 2,858 – 75 626 – 456 106 5,153
Changes attributable to
Revisions of previous estimates (30) (25) (280) – (11) (1) – (2) – (349)
Improved recovery 3 – 140 – – 13 – 2 – 158
Purchases of reserves-in-place 4 – 21 – –––– –25
Discoveries and extensions – 1 23 – – 2 – – – 26
Productionc(31) (8) (142) – (10) (73) – (51) (9) (324)
Sales of reserves-in-place (6) (18) (188) – –––– –(212)
(60) (50) (426) – (21) (59) – (51) (9) (676)
At 31 December 2012dh
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
Equity-accounted entities (BP share)e
At 1 January 2012
Developed – – – – 349 – 2,596 256 – 3,201
Undeveloped – – – – 348 14 1,613 58 – 2,033
– – – – 697 14 4,209 314 – 5,234
Changes attributable to
Revisions of previous estimates – – – – (2) 9 462 (23) – 446
Improved recovery – – – – 24 – 47 – – 71
Purchases of reserves-in-place – – – – –––– – –
Discoveries and extensions – – – – – – 67 – – 67
Production – – – – (29) – (316) (80) – (425)
Sales of reserves-in-place – – – – – – (15) – – (15)
– – – – (7) 9 245 (103) – 144
At 31 December 2012fgi
Developed – – – – 339 12 2,492 198 – 3,041
Undeveloped – – – – 351 11 1,962 13 – 2,337
– – – – 690 23 4,454 211 – 5,378
Total subsidiaries and equity-accounted entities (BP share)
At 1 January 2012
Developed 288 69 1,685 – 376 311 2,596 433 59 5,817
Undeveloped 445 230 1,173 – 396 329 1,613 337 47 4,570
733 299 2,858 – 772 640 4,209 770 106 10,387
At 31 December 2012
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
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 76 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 13,500 barrels per day.
dIncludes 591 million barrels of NGLs. Also includes 14 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 103 million barrels of NGLs. Also includes 328 million barrels of crude oil in respect of the 7.35% non-controlling interest in TNK-BP.
gTotal proved liquid reserves held as part of our equity interest in TNK-BP is 4,540 million barrels, comprising 87 million barrels in Venezuela and 4,454 million barrels in Russia.
hIncludes assets held for sale of 39 million barrels.
iIncludes assets held for sale of 4,540 million barrels.
Financial statements
BP Annual Report and Form 20-F 2013 211