BP 2014 Annual Report Download - page 179

Movements in estimated net proved reserves – continued
million barrels
Natural gas liquidsab 2014
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
Developed 9 16 290 – 14 4 – – 8 342
Undeveloped 6 2 155 – 28 15 – – 3 209
15 18 444 – 43 20 – – 10 551
Changes attributable to
Revisions of previous estimates (6) (2) 15 – – (6) – – – 1
Improved recovery ––13– –––– –13
Purchases of reserves-in-place –––– –––– – 1
Discoveries and extensions –––– –––– – –
Productionc(1) (2) (27) – (4) (2) – – (1) (36)
Sales of reserves-in-place – – (18) – –––– –(18)
(6) (4) (17) – (4) (8) – – (1) (40)
At 31 Decemberd
Developed 6 13 323 – 11 5 – – 6 364
Undeveloped 3 1 104 – 28 7 – – 3 146
9 14 427 – 39 12 – – 10 510
Equity-accounted entities (BP share)e
At 1 January
Developed – – – – – 8 94 – – 103
Undeveloped – – – – – 8 21 – – 29
– – – – – 16 115 – – 131
Changes attributable to
Revisions of previous estimates – – – – – – (69) – – (69)
Improved recovery –––– –––– – –
Purchases of reserves-in-place –––– –––– – –
Discoveries and extensions –––– –––– – –
Production –––– –––– – –
Sales of reserves-in-place –––– –––– – –
– – – – – (1) (69) – – (69)
At 31 Decemberf
Developed – – – – – 15 30 – – 46
Undeveloped –––– ––16– –16
– – – – – 15 46 – – 62
Total subsidiaries and equity-accounted entities (BP share)
At 1 January
Developed 9 16 290 – 14 13 94 – 8 444
Undeveloped 6 2 155 – 28 23 21 – 3 238
15 18 444 – 43 36 115 – 10 682
At 31 December
Developed 6 13 323 – 11 20 30 – 6 410
Undeveloped 3 1 104 – 28 7 16 – 3 163
9 14 427 – 39 27 46 – 10 572
aProved 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.
bBecause of rounding, some totals may not exactly agree with the sum of their counterparts.
cExcludes NGLs from processing plants in which an interest is held of less than 1 thousand barrels per day for subsidiaries and 7 thousand barrels per day for equity-accounted entities.
dIncludes 12 million barrels of NGL 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.
fTotal proved NGL reserves held as part of our equity interest in Rosneft is 47 million barrels, comprising less than 1 million barrels in Venezuela, Vietnam and Canada, and 46 million barrels in Russia.
Financial statements
BP Annual Report and Form 20-F 2014 175