BP 2010 Annual Report Download - page 24

Businessreview
Oil and natural gas production and net proved reservesa
   2010 2009 2008 2007 2006
Crudeoilproductionforsubsidiaries(thousandbarrelsperday)   1,229 1,400 1,263 1,304 1,351
Crudeoilproductionforequity-accountedentities(thousandbarrelsperday)  1,145 1,135 1,138 1,110 1,124
Naturalgasproductionforsubsidiaries(millioncubicfeetperday)   7,332 7,450 7,277 7,222 7,412
Naturalgasproductionforequity-accountedentities(millioncubicfeetperday)  1,069 1,035 1,057 921 1,005
Estimatednetprovedcrudeoilreservesforsubsidiaries(millionbarrels)b  5,559 5,658 5,665 5,492 5,893
Estimatednetprovedcrudeoilreservesforequity-accountedentities
 (millionbarrels)c 4,971 4,853 4,688 4,581 3,888
Estimatednetprovedbitumenreservesforequity-accountedentities
 (millionbarrels)    179 – – – –
Estimatednetprovednaturalgasreservesforsubsidiaries(billioncubicfeet)d37,809 40,388 40,005 41,130 42,168
Estimatednetprovednaturalgasreservesforequity-accountedentities
 (billioncubicfeet)e 4,891 4,742 5,203 3,770 3,763
 
a  Crudeoilincludesnaturalgasliquids(NGLs)andcondensate.Productionand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,andincludeminorityinterestsinconsolidatedoperations.
b  Includes22millionbarrels(23millionbarrelsat31December2009and21millionbarrelsat31December2008)inrespectofthe30%minorityinterestinBPTrinidadandTobagoLLC.
c  Includes254millionbarrels(243millionbarrelsat31December2009and216millionbarrelsat31December2008)inrespectofthe7.03%minorityinterestinTNK-BP(6.86%at31December2009and
6.80%at31December2008).
d  Includes2,921billioncubicfeetofnaturalgas(3,068billioncubicfeetat31December2009and3,108billioncubicfeetat31December2008)inrespectofthe30%minorityinterestinBPTrinidadand
TobagoLLC.
e  Includes137billioncubicfeet(131billioncubicfeetat31December2009and2008)inrespectofthe5.89%minorityinterestinTNK-BP(5.79%at31December2009and5.92%at31December2008).
Total net proved reserves 2010a
(million barrels of oil equivalent)
Liquidsb
Natural gas10,709
7,362
a Combined basis of subsidiaries and equity-accounted entities, on a basis consistent with
general industry practice.
bCrude oil, condensate, natural gas liquids and bitumen.
During2010,1,503millionbarrelsofoilandnaturalgas,onanoil
equivalentabasis(mmboe),wereadded,excludingpurchasesandsales,
toBP’sprovedreserves(686mmboeforsubsidiariesand818mmboefor
equity-accountedentities).At31December2010,BP’sprovedreserves
were18,071mmboe(12,077mmboeforsubsidiariesand5,994mmboefor
equity-accountedentities).Ourprovedreservesinsubsidiariesarelocated
primarilyintheUS(44%),SouthAmerica(15%),theUK(10%),Australasia
(9%)andAfrica(11%).Ourprovedreservesinequity-accountedentities
arelocatedprimarilyinRussia(69%),SouthAmerica(20%),andRest
ofAsia(7%).
Foradiscussionofproduction,seeExplorationandProductionon
page43.
a  Naturalgasisconvertedtooilequivalentat5.8billioncubicfeet(bcf)=1millionbarrels.
22BPAnnualReportandForm20-F2010