BP 2014 Annual Report Download - page 183

Movements in estimated net proved reserves – continued
million barrels of oil equivalentc
Total hydrocarbonsab 2014
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe USd
Rest of
North
America Russia
Rest of
Asia
Subsidiaries
At 1 January
Developed 280 225 2,525 2 564 486 – 582 735 5,399
Undeveloped 434 62 1,394 188 1,100 507 – 835 324 4,844
714 287 3,919 190 1,664 993 – 1,417 1,059 10,243
Changes attributable to
Revisions of previous estimates (91) (78) 96 (14) (36) (1) – 90 (62) (96)
Improved recovery 3 – 129 – 39 8 – – – 180
Purchases of reserves-in-place 6–1– –––68 –74
Discoveries and extensions 21 – 1 – 47 1 – 54 – 123
Productionef (23) (24) (258) (1) (146) (121) – (86) (60) (717)
Sales of reserves-in-place – – (109) – (5) – – – – (114)
(84) (101) (140) (14) (99) (113) – 126 (122) (548)
At 31 Decemberg
Developed 232 160 2,588 12 426 477 – 675 618 5,187
Undeveloped 398 26 1,191 163 1,139 403 – 868 319 4,507
630 186 3,779 175 1,565 880 – 1,543 937 9,694
Equity-accounted entities (BP share)h
At 1 January
Developed – – – – 552 50 3,782 133 – 4,517
Undeveloped – – – 1 442 33 2,751 9 – 3,236
– – – 1 994 83 6,533 142 – 7,753
Changes attributable to
Revisions of previous estimates – – – – (11) 4 276 9 – 278
Improved recovery ––––16––– –16
Purchases of reserves-in-place –––– –––– – –
Discoveries and extensions – – – – 22 – 219 – – 241
Productionf– – – – (56) (1) (365) (39) – (460)
Sales of reserves-in-place –––– –––– – –
– – – – (29) 3 130 (29) – 75
At 31 Decemberij
Developed – – – – 528 86 3,834 100 – 4,548
Undeveloped – – – 1 438 – 2,830 13 – 3,280
– – – 1 965 86 6,663 112 – 7,828
Total subsidiaries and equity-accounted entities (BP share)
At 1 January
Developed 280 225 2,525 2 1,116 536 3,782 715 735 9,916
Undeveloped 434 62 1,394 189 1,542 540 2,751 844 324 8,080
714 287 3,919 191 2,658 1,076 6,533 1,559 1,059 17,996
At 31 December
Developed 232 160 2,588 12 954 563 3,834 775 618 9,735
Undeveloped 398 26 1,191 164 1,576 403 2,830 881 319 7,788
630 186 3,779 176 2,530 966 6,663 1,656 937 17,523
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.
c5.8 billion cubic feet of natural gas = 1 million barrels of oil equivalent.
dProved reserves in the Prudhoe Bay field in Alaska include an estimated 65 million barrels of oil equivalent 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.
eExcludes 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.
fIncludes 31 million barrels of oil equivalent of natural gas consumed in operations, 26 million barrels of oil equivalent in subsidiaries, 5 million barrels of oil equivalent in equity-accounted entities.
gIncludes 456 million barrels of oil equivalent in respect of the 30% non-controlling interest in BP Trinidad and Tobago LLC.
hVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
iIncludes 54 million barrels of oil equivalent in respect of the non-controlling interest in Rosneft.
jTotal proved reserves held as part of our equity interest in Rosneft is 6,702 million barrels of oil equivalent, comprising 1 million barrels of oil equivalent in Canada, 33 million barrels of oil equivalent in
Venezuela, 5 million barrels of oil equivalent in Vietnam and 6,663 million barrels of oil equivalent in Russia.
Financial statements
BP Annual Report and Form 20-F 2014 179