BP 2011 Annual Report Download - page 265

Financial statements
BP Annual Report and Form 20-F 2011 263
Supplementary information on oil and natural gas (unaudited)
Oil and natural gas exploration and production activities continued
$ million
2010
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe US
Rest of
North
America Russia
Rest of
Asia
Equity-accounted entities (BP share)a
Capitalized costs at 31 Decemberb
Gross capitalized costs
Proved properties –––142 5,778 –14,486 3,192 –23,598
Unproved properties –––1,284 163 –652 – – 2,099
–––1,426 5,941 –15,138 3,192 –25,697
Accumulated depreciation ––––2,250 –6,300 2,674 –11,224
Net capitalized costs –––1,426 3,691 –8,838 518 –14,473
Costs incurred for the year ended 31 Decemberb
Acquisition of propertiesc
Proved ––––––––––
Unproved ––––9–66 – – 75
––––9–66 – – 75
Exploration and appraisal costsd––––2–94 – – 96
Development –––49 549 –1,416 355 –2,369
Total costs –––49 560 –1,576 355 –2,540
Results of operations for the year ended 31 December
Sales and other operating revenuese
Third parties ––––2,268 –5,610 2,557 –10,435
Sales between businesses ––––––3,432 19 –3,451
––––2,268 –9,042 2,576 –13,886
Exploration expenditure ––––22 –40 – – 62
Production costs ––––316 –1,602 184 –2,102
Production taxes ––––911 –3,567 2,029 –6,507
Other costs (income) –––67 75 – 3 (2) –143
Depreciation, depletion and amortization ––––269 –954 363 –1,586
Impairments and losses on sale of
businesses and fixed assets ––––––43 – – 43
–––67 1,593 –6,209 2,574 –10,443
Profit (loss) before taxation –––(67) 675 –2,833 2 – 3,443
Allocable taxes ––––260 –475 33 –768
Results of operations –––(67) 415 –2,358 (31) –2,675
Exploration and production activities –
equity-accounted entities after tax
(as above) –––(67) 415 –2,358 (31) –2,675
Midstream and other activities after taxf– 4 27 238 199 63 255 518 –1,304
Total replacement cost profit
after interest and tax – 4 27 171 614 63 2,613 487 –3,979
a These tables contain information relating to oil and natural gas exploration and production activities of equity-accounted entities. They do not include amounts relating to assets held for sale. Midstream
activities relating to the management and ownership of crude oil and natural gas pipelines, processing and export terminals and LNG processing facilities and transportation as well as downstream
activities of TNK-BP are excluded. The amounts reported for equity-accounted entities exclude the corresponding amounts for their equity-accounted entities.
b Decommissioning assets are included in capitalized costs at 31 December but are excluded from costs incurred for the year.
c Includes costs capitalized as a result of asset exchanges.
d Includes exploration and appraisal drilling expenditures, which are capitalized within intangible assets, and geological and geophysical exploration costs, which are charged to income as incurred.
e Presented net of transportation costs and sales taxes.
f Includes interest, minority interest and the net results of equity-accounted entities of equity-accounted entities.