BP 2014 Annual Report Download - page 193

Movements in estimated net proved reserves – continued
million barrels
Total liquidsab 2012
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 287 69 1,686 – 27 311 – 177 59 2,617
Undeveloped 445 230 1,173 178 48 314 – 279 47 2,714
733 299 2,859 178 75 625 – 456 106 5,331
Changes attributable to
Revisions of previous estimates (29) (25) (280) 18 (11) (1) – (2) – (331)
Improved recovery 3 – 140 – – 13 – 2 – 158
Purchases of reserves-in-place 4 – 21 – –––– –24
Discoveries and extensions – 1 23 – – 2 – – – 26
Productiond(31) (8) (141) – (10) (72) – (51) (9) (324)
Sales of reserves-in-place (6) (18) (188) – –––– –(212)
(59) (51) (425) 18 (21) (59) – (51) (10) (658)
At 31 Decemberef
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
Equity-accounted entities (BP share)g
At 1 January
Developed – – – – 349 – 2,595 256 – 3,201
Undeveloped – – – – 348 14 1,614 58 – 2,034
– – – – 697 14 4,209 314 – 5,234
Changes attributable to
Revisions of previous estimates – – – – (2) 9 462 (24) – 445
Improved recovery – – – – 24 – 47 – – 71
Purchases of reserves-in-place – – – – –––– – –
Discoveries and extensions – – – – – – 67 – – 67
Production – – – – (29) – (316) (80) – (425)
Sales of reserves-in-place – – – – – – (15) – – (15)
– – – – (7) 9 244 (103) – 144
At 31 Decemberhi j
Developed – – – – 339 12 2,492 198 – 3,041
Undeveloped – – – – 351 11 1,962 13 – 2,337
– – – – 691 23 4,453 211 – 5,378
Total subsidiaries and equity-accounted entities (BP share)
At 1 January
Developed 287 69 1,686 – 376 311 2,595 433 59 5,817
Undeveloped 445 230 1,173 178 396 328 1,614 337 47 4,748
733 299 2,859 178 772 640 4,209 770 106 10,565
At 31 December
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
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 76 million barrels of oil equivalent 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 13,500 barrels of oil equivalent per day.
eAlso includes 14 million barrels of oil equivalent in respect of the 30% non-controlling interest in BP Trinidad and Tobago LLC.
fIncludes assets held for sale of 4,540 million barrels.
gVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
hIncludes 328 million barrels in respect of the non-controlling interest in TNK-BP.
iTotal proved liquid reserves held as part of our equity interest in TNK-BP is 4,540 million barrels, comprising 87 million barrels in Venezuela and 4,454 million barrels in Russia.
jIncludes assets held for sale of 39 million barrels.
Financial statements
BP Annual Report and Form 20-F 2014 189