BP 2012 Annual Report Download - page 275

million barrels of oil equivalentb
Total hydrocrabonsa2012
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 2012
Developed 531 76 3,362 5 522 522 – 355 675 6,048
Undeveloped 602 308 1,833 – 1,173 665 – 342 455 5,378
1,133 384 5,195 5 1,695 1,187 – 697 1,130 11,426
Changes attributable to
Revisions of previous estimates (33) (27) (600) (3) (31) (3) – 5 (8) (700)
Improved recovery 19 – 293 – 130 25 – 29 – 496
Purchases of reserves-in-place 7–61 – – ––– –68
Discoveries and extensions – 2 62 – 103 2 – – – 169
Productionde (59) (9) (256) (1) (143) (116) – (95) (59) (738)
Sales of reserves-in-place (100) (18) (386) – (4) – – – – (508)
(166) (52) (826) (4) 55 (92) – (61) (67) (1,213)
At 31 December 2012fj
Developed 421 229 2,865 1 640 508 – 427 618 5,709
Undeveloped 546 103 1,504 – 1,110 587 – 209 445 4,504
967 332 4,369 1 1,750 1,095 – 636 1,063 10,213
Equity-accounted entities (BP share)g
At 1 January 2012
Developed – – – – 546 – 2,961 274 – 3,781
Undeveloped – – – 178 522 48 1,727 66 – 2,541
– – – 178 1,068 48 4,688 340 – 6,322
Changes attributable to
Revisions of previous estimates – – – 17 13 34 560 (19) – 605
Improved recovery – – – – 43 – 47 – – 90
Purchases of reserves-in-place –– – – – ––– – –
Discoveries and extensions – – – – 1 – 292 – – 293
Productionde – – – – (58) – (364) (86) – (508)
Sales of reserves-in-place – – – – – – (15) – – (15)
– – – 17 (1) 34 520 (105) – 465
At 31 December 2012hik
Developed – – – – 559 43 2,943 220 – 3,765
Undeveloped – – – 195 508 39 2,265 15 – 3,022
– – – 195 1,067 82 5,208 235 – 6,787
Total subsidiaries and equity-accounted entities (BP share)
At 1 January 2012
Developed 531 76 3,362 5 1,068 522 2,961 629 675 9,829
Undeveloped 602 308 1,833 178 1,695 713 1,727 408 455 7,919
1,133 384 5,195 183 2,763 1,235 4,688 1,037 1,130 17,748
At 31 December 2012
Developed 421 229 2,865 1 1,199 551 2,943 647 618 9,474
Undeveloped 546 103 1,504 195 1,618 626 2,265 224 445 7,526
967 332 4,369 196 2,817 1,177 5,208 871 1,063 17,000
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.
b5.8 billion cubic feet of natural gas = 1 million barrels of oil equivalent.
cProved reserves in the Prudhoe Bay field in Alaska include an estimated 76 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.
dExcludes NGLs from processing plants in which an interest is held of 13,500 barrels of oil equivalent per day.
eIncludes 33 million barrels of oil equivalent of natural gas consumed in operations, 25 million barrels of oil equivalent in subsidiaries, 8 million barrels of oil equivalent in equity-accounted entities and
excludes 2 million barrels of oil equivalent of produced non-hydrocarbon components that meet regulatory requirements for sales.
fIncludes 591 million barrels of NGLs. Also includes 512 million barrels of oil equivalent in respect of the 30% minority interest in BP Trinidad and Tobago LLC.
gVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
hIncludes 103 million barrels of NGLs. Also includes 374 million barrels of oil equivalent in respect of the minority interest in TNK-BP.
iTotal proved reserves held as part of our equity interest in TNK-BP is 5,315 million barrels of oil equivalent, comprising 93 million barrels of oil equivalent in Venezuela, 14 million barrels of oil equivalent in
Vietnam and 5,208 million barrels of oil equivalent in Russia.
jincludes assets held for sale of 140 million barrels of oil equivalent.
kincludes assets held for sale of 5,315 million barrels of oil equivalent.
Supplementary information on oil and natural gas (unaudited) 273
BP Annual Report and Form 20-F 2012
Financial statements
Movements in estimated net proved reserves continued