BP 2014 Annual Report Download - page 191

Movements in estimated net proved reserves – continued
million barrels
Natural gas liquidsab 2012
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 12 3 348 – 4 7 – 1 9 383
Undeveloped 9 22 152 – 18 21 – – 11 233
21 25 501 – 22 28 – 1 20 616
Changes attributable to
Revisions of previous estimates – (2) 8 – –––– – 5
Improved recovery – – 63 – –––– –63
Purchases of reserves-in-place – – 17 – –––– –17
Discoveries and extensions – – 13 – –––– –14
Productionc(1) – (27) – (4) (3) – – (1) (37)
Sales of reserves-in-place – – (87) – –––– –(88)
(1) (2) (14) – (4) (3) – – (1) (26)
At 31 Decemberd
Developed 14 17 316 – 6 6 – – 7 366
Undeveloped 5 6 171 – 12 19 – – 11 225
19 23 487 – 18 25 – – 18 591
Equity-accounted entities (BP share)e
At 1 January
Developed – – – – 4 – – – – 4
Undeveloped – – – – 4 11 – – – 15
–––– 811–– –19
Changes attributable to
Revisions of previous estimates – – – – – 6 85 – – 91
Improved recovery – – – – –––– – –
Purchases of reserves-in-place – – – – –––– – –
Discoveries and extensions – – – – –––– – –
Production – – – – – – (7) – – (7)
Sales of reserves-in-place – – – – –––– – –
– – – – – 6 78 – – 84
At 31 Decemberfg
Developed – – – – 3 9 59 – – 71
Undeveloped – – – – 4 9 19 – – 32
– – – – 7 18 78 – – 103
Total subsidiaries and equity-accounted entities (BP share)
At 1 January
Developed 12 3 348 – 8 7 – 1 9 387
Undeveloped 9 22 152 – 21 32 – – 11 248
21 25 501 – 29 39 – 1 20 635
At 31 December
Developed 14 17 316 – 9 15 59 – 7 437
Undeveloped 5 6 171 – 16 27 19 – 11 257
19 23 487 – 25 43 78 – 18 693
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 13,500 barrels per day.
dIncludes 5 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 TNK-BP is 78 million barrels, all in Russia.
gIncludes assets held for sale of 78 million barrels.
Financial statements
BP Annual Report and Form 20-F 2014 187