BP 2005 Annual Report Download - page 57

9 Gains on sale of businesses and fixed assets continued
The principal transactions giving rise to these gains for each segment are described below.
GAINS ON SALE OF FIXED ASSETS
Exploration and Production The group divested interests in a number of oil and natural gas properties in all three years. The major divestment
during 2005 was the sale of the group’s interest in the Ormen Lange field in Norway. BP also sold various oil and gas properties in Trinidad &
Tobago, Canada and the Gulf of Mexico. For 2004, divestments included interests in oil and natural gas properties in Australia, Canada and the Gulf
of Mexico. In 2003, transactions included the divestment of a further 20% interest in BP Trinidad and Tobago LLC to Repsol, the sale of the group’s
96.14% interest in the Forties oil field in the UK North Sea, the sale of a package of UK Southern North Sea gas fields and the divestment of our
interest in the In Amenas gas condensate project in Algeria to Statoil.
Refining and Marketing During 2005, the group divested a number of regional retail networks in the US. For 2004, divestments included the sale of
the Cushing and other pipeline interests in the US and the churn of retail assets. In 2003, disposals included the sale of pipeline interests in the US.
Gas, Power and Renewables In 2005, transactions included the disposal of the group’s interest in the Interconnector pipeline. During 2004, the
group divested its interest in two natural gas liquids plants in Canada.
Other businesses and corporate For 2004, the major disposals were the divestment of the group’s investments in PetroChina and Sinopec.
In 2003, the group sold its 50% interest in Kaltim Prima Coal, an Indonesian company, its interest in AG International Chemical Company, a purified
isophthalic acid associate in Japan, and certain other investments.
Additional information on the sale of businesses and fixed assets is given in Note 5, Disposals.
10 Production and similar taxes $ million
2005 2004 2003
UK 495 335 300
Overseas 2,515 1,814 1,423
Continuing operations 3,010 2,149 1,723
11 Depreciation, depletion and amortization $ million
By business 2005 2004 2003
Exploration and Production
UK 1,663 1,642 1,612
Rest of Europe 228 184 168
USA 2,426 2,407 2,627
Rest of World 1,716 1,350 1,132
6,033 5,583 5,539
Refining and Marketing
UKa316 318 252
Rest of Europe 687 645 606
USA 1,092 1,246 1,063
Rest of World 297 331 277
2,392 2,540 2,198
Gas, Power and Renewables
UK 47 37 34
Rest of Europe 20 24 22
USA 99 80 69
Rest of World 59 69 35
225 210 160
Other businesses and corporate
UK 203 251 294
Rest of Europe 130 204 166
USA 187 199 205
Rest of World 13 25 43
533 679 708
By geographical area
UKa2,229 2,248 2,192
Rest of Europe 1,065 1,057 962
USA 3,804 3,932 3,964
Rest of World 2,085 1,775 1,487
9,183 9,012 8,605
Innovene operations (412) (483) (529)
Continuing operations 8,771 8,529 8,076
aUK area includes the UK-based international activities of Refining and Marketing.
BP Annual Report and Accounts 2005 55