BP 2015 Annual Report Download - page 175
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Please find page 175 of the 2015 BP annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Oil and natural gas exploration and production activities – continued
$ million
2015
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe US
Rest of
North
America Russiaa
Rest of
Asia
Equity-accounted entities (BP share)
Capitalized costs at 31 Decemberbc
Gross capitalized costs
Proved properties – – – – 9,824 – 12,728 3,486 – 26,038
Unproved properties – – – – – – 437 26 – 463
– – – – 9,824 – 13,165 3,512 – 26,501
Accumulated depreciation – – – – 4,117 – 2,788 3,458 – 10,363
Net capitalized costs – – – – 5,707 – 10,377 54 – 16,138
Costs incurred for the year ended 31 Decemberbde
Acquisition of propertiesc
Proved –––– ––16– –16
Unproved –––– ––26– –26
–––– ––42– –42
Exploration and appraisal costsd– – – – 8 – 123 1 – 132
Development – – – – 1,128 – 1,702 443 – 3,273
Total costs – – – – 1,136 – 1,867 444 – 3,447
Results of operations for the year ended 31 Decemberb
Sales and other operating revenuesf
Third parties – – – – 2,060 – – 1,022 – 3,082
Sales between businesses – – – – – – 8,592 19 – 8,611
– – – – 2,060 – 8,592 1,041 – 11,693
Exploration expenditure – – – – 3 – 52 – – 55
Production costs – – – – 647 – 1,083 168 – 1,898
Production taxes – – – – 425 – 3,911 388 – 4,724
Other costs (income) – – – – (381) – 284 – – (97)
Depreciation, depletion and
amortization – – – – 465 – 992 484 – 1,941
Net impairments and losses on sale of
businesses and fixed assets – – – – 80 – – 35 – 115
– – – – 1,239 – 6,322 1,075 – 8,636
Profit (loss) before taxation – – – – 821 – 2,270 (34) – 3,057
Allocable taxes – – – – 504 – 449 1 – 954
Results of operations – – – – 317 – 1,821 (35) – 2,103
Upstream and Rosneft segments replacement cost profit before interest and tax from equity-accounted entities
Exploration and production activities –
equity-accounted entities after tax
(as above) – – – – 317 – 1,821 (35) – 2,103
Midstream and other activities after
taxg– (7) 19 – 53 (552) (495) 398 – (584)
Total replacement cost profit after
interest and tax – (7) 19 – 370 (552) 1,326 363 – 1,519
aAmounts reported for Russia include BP’s share of Rosneft’s worldwide activities, including insignificant amounts outside Russia.
bThese tables contain information relating to oil and natural gas exploration and production activities of equity-accounted entities. Amounts relating to the management and ownership of crude oil and
natural gas pipelines, LNG liquefaction and transportation operations as well as downstream activities of Rosneft are excluded. The amounts reported for equity-accounted entities exclude the
corresponding amounts for their equity-accounted entities.
cDecommissioning assets are included in capitalized costs at 31 December but are excluded from costs incurred for the year.
dIncludes exploration and appraisal drilling expenditures, which are capitalized within intangible assets, and geological and geophysical exploration costs, which are charged to income as incurred.
eThe amounts shown reflect BP’s share of equity-accounted entities’ costs incurred, and not the costs incurred by BP in acquiring an interest in equity-accounted entities.
fPresented net of transportation costs and sales taxes.
gIncludes interest and adjustment for non-controlling interests. Excludes inventory holding gains and losses.
Financial statements
BP Annual Report and Form 20-F 2015 171