BP 2014 Annual Report Download - page 187

Movements in estimated net proved reserves – continued
million barrels
Total liquidsab 2013
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe USc
Rest of
North
America Russia
Rest of
Asia
Subsidiaries
At 1 January
Developed 242 170 1,444 – 22 312 – 268 52 2,509
Undeveloped 431 79 989 195 32 255 – 137 45 2,164
673 249 2,433 195 54 567 – 405 96 4,673
Changes attributable to
Revisions of previous estimates (78) (19) (141) (7) 30 26 – 65 (12) (136)
Improved recovery 12 – 52 – 1 2 – 65 – 132
Purchases of reserves-in-place – – – – –––– – –
Discoveries and extensions – – 3 – – – – 39 3 45
Productiond(22) (13) (132) – (11) (80) – (52) (9) (319)
Sales of reserves-in-place (36) – (12) – –––– –(48)
(124) (31) (229) (7) 20 (52) – 117 (18) (324)
At 31 Decembere
Developed 169 163 1,297 – 29 320 – 320 57 2,354
Undeveloped 380 55 907 188 46 195 – 202 22 1,994
549 217 2,204 188 74 515 – 523 78 4,348
Equity-accounted entities (BP share)f
At 1 January
Developed – – – – 339 12 2,492 198 – 3,041
Undeveloped – – – – 351 11 1,962 13 – 2,337
– – – – 691 23 4,453 211 – 5,378
Changes attributable to
Revisions of previous estimates – – – 1 (21) (3) 384 1 – 362
Improved recovery – – – – 27 – – – – 27
Purchases of reserves-in-place – – – – 34 – 4,579 – – 4,613
Discoveries and extensions – – – – 11 – 228 – – 239
Production – – – – (27) – (302) (85) – (414)
Sales of reserves-in-place – – – – (85) – (4,399) – – (4,485)
– – – 1 (61) (3) 490 (84) – 343
At 31 Decembergh
Developed – – – – 316 10 3,063 120 – 3,510
Undeveloped – – – 1 314 10 1,879 7 – 2,210
– – – 1 630 20 4,943 127 – 5,721
Total subsidiaries and equity-accounted entities (BP share)
At 1 January
Developed 242 170 1,444 – 361 324 2,492 466 52 5,550
Undeveloped 431 79 989 195 384 266 1,962 150 45 4,501
673 249 2,433 195 745 590 4,453 616 96 10,051
At 31 December
Developed 169 163 1,297 – 345 331 3,063 440 57 5,865
Undeveloped 380 55 907 188 359 205 1,879 209 22 4,204
549 217 2,204 189 704 535 4,943 650 78 10,069
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.
bBecause of rounding, some totals may not exactly agree with the sum of their counterparts.
cProved reserves in the Prudhoe Bay field in Alaska include an estimated 72 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.
dExcludes NGLs from processing plants in which an interest is held of 5,500 barrels per day.
eAlso includes 21 million barrels in respect of the 30% non-controlling interest in BP Trinidad and Tobago LLC.
fVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
gIncludes 23 million barrels in respect of the non-controlling interest in Rosneft.
hTotal proved liquid reserves held as part of our equity interest in Rosneft is 4,975 million barrels, comprising 1 million barrels in Canada, 32 million barrels in Venezuela, less than 1 million barrels in
Vietnam and 4,943 million barrels in Russia.
Financial statements
BP Annual Report and Form 20-F 2014 183