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BP Annual Report and Accounts 2009
Supplementary information on oil and natural gas (unaudited)
Financial statements
Movements in estimated net proved reserves continued
–
62
39
(1)
185
million barrels
Crude oila2008
Europe North South Africa Asia Australasia Total
America America
Rest of
Rest of North Rest of
UK Europe USeAmerica Russia Asia
Subsidiaries
At 1 January 2008
Developed 414 105 1,882 13 102 256 – 121 44 2,937
Undeveloped 123 169 1,265 1 202 350 – 372 73 2,555
537 274 3,147 14 304 606 – 493 117 5,492
Changes attributable to
Revisions of previous estimates 16 (11) (212) 1 7 264 – 194 5 264
Improved recovery 39 28 182 – 8 18 – 43 3 321
Purchases of reserves-in-place –––––––––
Discoveries and extensions – – 64 – 5 173 – – – 242
Productionb(63) (16) (191) (3) (23) (101) – (47) (11) (455)
Sales of reserves-in-place ––––(199) ––––(199)
(8) 1 (157) (2) (202) 354 – 190 (3) 173
At 31 December 2008c
Developed 410 81 1,717 11 47 464 – 195 56 2,981
Undeveloped 119 194 1,273 1 55 496 – 488 58 2,684
529 275 2,990 12 102 960 – 683 114 5,665
Equity-accounted entities (BP share)f
At 1 January 2008
Developed ––––328 – 2,094 574 – 2,996
Undeveloped ––––243 – 1,137 205 – 1,585
––––571 – 3,231 779 – 4,581
Changes attributable to
Revisions of previous estimates ––––(3)11 217 (1) – 224
Improved recovery ––––62 ––––
Purchases of reserves-in-place ––––199 ––––199
Discoveries and extensions ––––13 –26 ––
Production ––––(34) – (302) (80) – (416)
Sales of reserves-in-place ––––––(1)––
––––237 11 (60) (81) – 107
At 31 December 2008d
Developed ––––399 – 2,227 499 – 3,125
Undeveloped ––––409 11 944 199 – 1,563
––––808 11 3,171 698 – 4,688
Total subsidiaries and equity-accounted entities (BP share)
At 1 January 2008
Developed 414 105 1,882 13 430 256 2,094 695 44 5,933
Undeveloped 123 169 1,265 1 445 350 1,137 577 73 4,140
537 274 3,147 14 875 606 3,231 1,272 117 10,073
At 31 December 2008
Developed 410 81 1,717 11 446 464 2,227 694 56 6,106
Undeveloped 119 194 1,273 1 464 507 944 687 58 4,247
529 275 2,990 12 910 971 3,171 1,381 114 10,353
aCrude oil includes NGLs and condensate. 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.
bExcludes NGLs from processing plants in which an interest is held of 19 thousand barrels a day.
cIncludes 807 million barrels of NGLs. Also includes 21 million barrels of crude oil in respect of the 30% minority interest in BP Trinidad and Tobago LLC.
dIncludes 36 million barrels of NGLs. Also includes 216 million barrels of crude oil in respect of the 6.80% minority interest in TNK-BP.
eProved reserves in the Prudhoe Bay field in Alaska include an estimated 54 million barrels 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.
fVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.