BP 2008 Annual Report Download - page 186
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Financial statements
BP Annual Report and Accounts 2008
Supplementary information on oil and natural gas
Movements in estimated net proved reserves continued
2007
Natural gasabillion cubic feet
Rest of Rest of Asia
UK Europe US Americas Pacific Africa Russia Other Total
Subsidiaries
At 1 January 2007
Developed 1,968 242 10,438 3,932 1,359 1,032 – 331 19,302
Undeveloped 825 56 4,660 9,194 5,202 1,675 – 1,254 22,866
2,793 298 15,098 13,126 6,561 2,707 – 1,585 42,168
Changes attributable to
Revisions of previous estimates 93 (37) 744 (276) 140 (146) – (21) 497
Purchases of reserves-in-place – – 23 – – – – 109 132
Discoveries and extensions – 293 95 249 88 17 – – 742
Improved recovery 15 1 326 32 111 9 – 5 499
Productionb(299) (14) (879) (1,047) (261) (187) – (114) (2,801)
Sales of reserves-in-place – (68) (32) (7) – – – – (107)
(191) 175 277 (1,049) 78 (307) – (21) (1,038)
At 31 December 2007c
Developed 2,049 63 10,670 3,683 1,822 990 – 583 19,860
Undeveloped 553 410 4,705 8,394 4,817 1,410 – 981 21,270
2,602 473 15,375 12,077 6,639 2,400 – 1,564 41,130
Equity-accounted entities (BP share)
At 1 January 2007
Developed – – – 1,460 52 – 1,087 170 2,769
Undeveloped – – – 735 23 – 184 52 994
– – – 2,195 75 – 1,271 222 3,763
Changes attributable to
Revisions of previous estimates – – – 73 (2) – 61 11 143
Purchases of reserves-in-place – – – – – – 8 – 8
Discoveries and extensions – – – 22 – – – – 22
Improved recovery – – – 195 16 – – – 211
Productionb– – – (176) (13) – (179) (9) (377)
Sales of reserves-in-place – – – – – – – – –
– – – 114 1 – (110) 2 7
At 31 December 2007d
Developed – – – 1,478 39 – 808 148 2,473
Undeveloped – – – 831 37 – 353 76 1,297
– – – 2,309 76 – 1,161 224 3,770
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.
bIncludes 202 billion cubic feet of natural gas consumed in operations, 161 billion cubic feet in subsidiaries, 41 billion cubic feet in equity-accounted entities and excludes 10.9 billion cubic feet of produced
non-hydrocarbon components which meet regulatory requirements for sales.
cIncludes 3,211 billion cubic feet of natural gas in respect of the 30% minority interest in BP Trinidad and Tobago LLC.
dIncludes 68 billion cubic feet of natural gas in respect of the 5.88% minority interest in TNK-BP.
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