BP 2014 Annual Report Download - page 190

Movements in estimated net proved reserves – continued
million barrels
Crude oilab 2012
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe USc
Rest of
North
America Russia
Rest of
Asia
Subsidiaries
At 1 January
Developed 276 66 1,337 – 23 304 – 176 50 2,233
Undeveloped 436 208 1,021 – 30 294 – 279 36 2,304
712 274 2,357 – 53 598 – 455 86 4,537
Changes attributable to
Revisions of previous estimates (30) (23) (288) – (11) (1) – (2) – (354)
Improved recovery 3 – 77 – – 13 – 2 – 95
Purchases of reserves-in-place 4 – 4 – –––– – 8
Discoveries and extensions – 1 10 – – 2 – – – 12
Production (30) (8) (115) – (6) (70) – (51) (8) (287)
Sales of reserves-in-place (6) (18) (101) – –––– –(124)
(59) (48) (412) – (17) (56) – (51) (8) (650)
At 31 Decemberde
Developed 228 153 1,127 – 16 306 – 268 45 2,143
Undeveloped 426 73 818 – 20 236 – 137 34 1,743
654 226 1,945 – 36 542 – 405 79 3,886
Equity-accounted entities (BP share)f
At 1 January
Developed – – – – 345 – 2,596 256 – 3,197
Undeveloped – – – – 344 3 1,613 58 – 2,018
– – – – 689 3 4,209 314 – 5,215
Changes attributable to
Revisions of previous estimates – – – – (2) 3 377 (23) – 355
Improved recovery – – – – 24 – 47 – – 71
Purchases of reserves-in-place – – – – –––– – –
Discoveries and extensions – – – – – – 67 – – 67
Production – – – – (29) – (309) (80) – (418)
Sales of reserves-in-place – – – – – – (15) – – (15)
– – – – (7) 3 167 (103) – 60
At 31 Decemberghi
Developed – – – – 336 3 2,433 198 – 2,970
Undeveloped – – – – 347 2 1,943 13 – 2,305
– – – – 683 5 4,376 211 – 5,275
Total subsidiaries and equity-accounted entities (BP share)
At 1 January
Developed 276 66 1,337 – 368 304 2,596 432 50 5,430
Undeveloped 436 208 1,021 – 375 297 1,613 337 36 4,322
712 274 2,357 – 743 601 4,209 769 86 9,752
At 31 December
Developed 228 153 1,127 – 352 309 2,433 466 45 5,113
Undeveloped 426 73 818 – 367 239 1,943 150 34 4,048
654 226 1,945 – 719 547 4,376 616 79 9,162
aCrude oil includes 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.
bBecause of rounding, some totals may not exactly agree with the sum of their counterparts.
cProved 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.
dIncludes 9 million barrels of crude oil in respect of the 30% non-controlling interest in BP Trinidad and Tobago LLC.
eIncludes assets held for sale of 39 million barrels.
fVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
gIncludes 328 million barrels of crude oil in respect of the 7.35% non-controlling interest in TNK-BP.
hTotal proved crude oil reserves held as part of our equity interest in TNK-BP is 4,463 million barrels, comprising 87 million barrels in Venezuela and 4,376 million barrels in Russia.
iIncludes assets held for sale of 4,463 million barrels.
186 BP Annual Report and Form 20-F 2014