BP 2013 Annual Report Download - page 220

Movements in estimated net proved reserves – continued
billion cubic feet
Natural gasa2011
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe US
Rest of
North
America Russia
Rest of
Asia
Subsidiaries
At 1 January 2011
Developed 1,416 40 9,495 58 3,575 1,329 – 1,290 3,563 20,766
Undeveloped 829 430 4,248 – 6,575 2,351 – 268 2,342 17,043
2,245 470 13,743 58 10,150 3,680 – 1,558 5,905 37,809
Changes attributable to
Revisions of previous estimates 169 30 – (9) 202 (206) – 69 299 554
Improved recovery 56 1 597 – 84 15 – 28 22 803
Purchases of reserves-in-place 8 – 93 7 – – – 310 – 418
Discoveries and extensions – – 219 – 47 – – – – 266
Productionb(146) (8) (737) (5) (811) (232) – (244) (291) (2,474)
Sales of reserves-in-place (12) – (363) (23) (274) – – (323) – (995)
75 23 (191) (30) (752) (423) – (160) 30 (1,428)
At 31 December 2011c
Developed 1,411 43 9,721 28 2,869 1,224 – 1,034 3,570 19,900
Undeveloped 909 450 3,831 – 6,529 2,033 – 364 2,365 16,481
2,320 493 13,552 28 9,398 3,257 – 1,398 5,935 36,381
Equity-accounted entities (BP share)d
At 1 January 2011
Developed – – – – 1,075 – 1,900 71 – 3,046
Undeveloped – – – – 1,192 175 459 19 – 1,845
– – – – 2,267 175 2,359 90 – 4,891
Changes attributable to
Revisions of previous estimates – – – – (75) 20 683 (3) – 625
Improved recovery – – – – 190 – – 12 – 202
Purchases of reserves-in-place – – – – 31 – – 76 – 107
Discoveries and extensions – – – – –––– – –
Productionb– – – – (167) – (264) (20) – (451)
Sales of reserves-in-place – – – – (96) – – – – (96)
– – – – (117) 20 419 65 – 387
At 31 December 2011ef
Developed – – – – 1,144 – 2,119 104 – 3,367
Undeveloped – – – – 1,006 195 659 51 – 1,911
– – – – 2,150 195 2,778 155 – 5,278
Total subsidiaries and equity-accounted entities (BP share)
At 1 January 2011
Developed 1,416 40 9,495 58 4,650 1,329 1,900 1,361 3,563 23,812
Undeveloped 829 430 4,248 – 7,767 2,526 459 287 2,342 18,888
2,245 470 13,743 58 12,417 3,855 2,359 1,648 5,905 42,700
At 31 December 2011
Developed 1,411 43 9,721 28 4,013 1,224 2,119 1,138 3,570 23,267
Undeveloped 909 450 3,831 – 7,535 2,228 659 415 2,365 18,392
2,320 493 13,552 28 11,548 3,452 2,778 1,553 5,935 41,659
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 196 billion cubic feet of natural gas consumed in operations,155 billion cubic feet in subsidiaries, 41 billion cubic feet in equity-accounted entities and excludes 14 billion cubic feet of produced
non-hydrocarbon components which meet regulatory requirements for sales.
cIncludes 2,759 billion cubic feet of natural gas in respect of the 30% non-controlling interest in BP Trinidad and Tobago LLC.
dVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
eIncludes 174 billion cubic feet of natural gas in respect of the 6.27% non-controlling interest in TNK-BP.
fTotal proved gas reserves held as part of our equity interest in TNK-BP is 2,881 billion cubic feet, comprising 30 billion cubic feet in Venezuela, 73 billion cubic feet in Vietnam and 2,778 billion cubic feet
in Russia. In 2011, BP aligned its reporting with TNK-BP by moving to a life of field reporting basis. Reasonable certainty of licence renewals is demonstrated by evidence of Russian subsoil law, track
record of renewals within the industry and track record of success in obtaining renewals by TNK-BP. This has resulted in an increase in proved gas reserves of 185 billion cubic feet.
216 BP Annual Report and Form 20-F 2013