BP 2013 Annual Report Download - page 206

Oil and natural gas exploration and production activities – continued
$ million
2013
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe US
Rest of
North
America Russiaa
Rest of
Asia
Equity-accounted entities (BP share)b
Capitalized costs at 31 Decemberc
Gross capitalized costs
Proved properties – – – – 7,648 – 18,942 4,239 – 30,829
Unproved properties – – – – 29 – 638 21 – 688
– – – – 7,677 – 19,580 4,260 – 31,517
Accumulated depreciation – – – – 3,282 – 1,077 4,061 – 8,420
Net capitalized costs – – – – 4,395 – 18,503 199 – 23,097
Costs incurred for the year ended 31 Decemberd
Acquisition of properties
Proved – – – – – – 1,816 – – 1,816
Unproved – – – – – – 657 – – 657
– – – – – – 2,473 – – 2,473
Exploration and appraisal costse– – – – 8 – 133 12 – 153
Development – – – – 714 – 1,860 538 – 3,112
Total costs – – – – 722 – 4,466 550 – 5,738
Results of operations for the year ended 31 December
Sales and other operating revenuesf
Third parties – – – – 2,294 – 435 4,770 – 7,499
Sales between businesses – – – – – – 9,679 14 – 9,693
– – – – 2,294 – 10,114 4,784 – 17,192
Exploration expenditure – – – – – – 126 1 – 127
Production costs – – – – 586 – 1,177 404 – 2,167
Production taxes – – – – 630 – 4,511 3,645 – 8,786
Other costs (income) – – – – 6 – 94 (1) – 99
Depreciation, depletion and
amortization – – – – 317 – 1,232 544 – 2,093
Impairments and losses on sale of
businesses and fixed assets –––– ––37– –37
– – – – 1,539 – 7,177 4,593 – 13,309
Profit (loss) before taxation – – – – 755 – 2,937 191 – 3,883
Allocable taxes – – – – 460 – 367 40 – 867
Results of operations – – – – 295 – 2,570 151 – 3,016
Exploration and production activities –
equity-accounted entities after tax
(as above) – – – – 295 – 2,570 151 – 3,016
Midstream and other activities after
taxg– 28 17 – 110 24 (412) 402 – 169
Total replacement cost profit after
interest and tax – 28 17 – 405 24 2,158 553 – 3,185
aAmounts reported for Russia in this table include BP’s share of Rosneft’s worldwide activities, including insignificant amounts outside Russia.
bThese 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 and Rosneft are excluded. The amounts reported for equity-accounted entities exclude the corresponding amounts for their equity-accounted entities.
cDecommissioning assets are included in capitalized costs at 31 December but are excluded from costs incurred for the year.
dThe amounts shown reflect BP’s share of equity-accounted entities’ costs incurred, and not the costs incurred by BP in acquiring an interest in equity-accounted entities.
eIncludes exploration and appraisal drilling expenditures, which are capitalized within intangible assets, and geological and geophysical exploration costs, which are charged to income as incurred.
fPresented net of transportation costs and sales taxes.
gIncludes interest, non-controlling interest and the net results of equity-accounted entities, and excludes inventory holding gains and losses.
202 BP Annual Report and Form 20-F 2013