BP 2014 Annual Report Download - page 194

Movements in estimated net proved reserves – continued
billion cubic feet
Natural gasab 2012
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
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
Changes attributable to
Revisions of previous estimates (18) (13) (1,853) (19) (116) (14) – 38 (41) (2,036)
Improved recovery 95 – 885 – 756 69 – 156 – 1,961
Purchases of reserves-in-place 17 (1) 232 – –––– –248
Discoveries and extensions – 7 225 – 598 1 – – – 831
Productionc(164) (5) (661) (5) (775) (251) – (253) (289) (2,403)
Sales of reserves-in-place (546) – (1,149) – (23) – – – – (1,718)
(616) (12) (2,321) (24) 440 (195) – (59) (330) (3,117)
At 31 Decemberde
Developed 1,038 340 8,245 4 3,588 1,139 – 926 3,282 18,562
Undeveloped 666 141 2,986 – 6,250 1,923 – 413 2,323 14,702
1,704 481 11,231 4 9,838 3,062 – 1,339 5,605 33,264
Equity-accounted entities (BP share)f
At 1 January
Developed – – – – 1,144 – 2,119 104 – 3,367
Undeveloped – – – – 1,006 195 659 51 – 1,911
– – – – 2,150 195 2,778 155 – 5,278
Changes attributable to
Revisions of previous estimates – – – – 86 144 569 25 – 824
Improved recovery – – – – 110 – – 1 – 111
Purchases of reserves-in-place – – – – –––– – –
Discoveries and extensions – – – – 3 – 1,310 – – 1,313
Productionc– – – – (169) – (280) (35) – (484)
Sales of reserves-in-place – – – – – – (1) – – (1)
– – – – 30 144 1,598 (9) – 1,763
At 31 Decemberghi
Developed – – – – 1,276 175 2,617 128 – 4,196
Undeveloped – – – – 904 164 1,759 18 – 2,845
– – – – 2,180 339 4,376 146 – 7,041
Total subsidiaries and equity-accounted entities (BP share)
At 1 January
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
At 31 December
Developed 1,038 340 8,245 4 4,864 1,314 2,617 1,054 3,282 22,758
Undeveloped 666 141 2,986 – 7,154 2,087 1,759 431 2,323 17,547
1,704 481 11,231 4 12,018 3,401 4,376 1,485 5,605 40,305
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.
cIncludes 190 billion cubic feet of natural gas consumed in operations, 145 billion cubic feet in subsidiaries, 45 billion cubic feet in equity-accounted entities and excludes 9 billion cubic feet of produced
non-hydrocarbon components that meet regulatory requirements for sales.
dIncludes 2,890 billion cubic feet of natural gas in respect of the 30% non-controlling interest in BP Trinidad and Tobago LLC.
eIncludes assets held for sale of 590 billion cubic feet.
fVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
gIncludes 270 billion cubic feet of natural gas in respect of the 6.17% non-controlling interest in TNK-BP.
hTotal proved gas reserves held as part of our equity interest in TNK-BP is 4,492 billion cubic feet, comprising 38 billion cubic feet in Venezuela, 78 billion cubic feet in Vietnam and 4,376 billion cubic feet
in Russia.
iIncludes assets held for sale of 4,492 billion cubic feet.
190 BP Annual Report and Form 20-F 2014