BP 2015 Annual Report Download - page 179

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)
Capitalized costs at 31 Decemberbc
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 Decemberbcd
Acquisition of properties
Proved – – – – – – 1,816 – – 1,816
Unproved – – – – – – 657 – – 657
– – – – – – 2,473 – – 2,473
Exploration and appraisal costse– – – – 8 – 133 12 – 153
Developmentf– – – – 714 – 1,860 423 – 2,997
Total costs – – – – 722 – 4,466 435 – 5,623
Results of operations for the year ended 31 Decemberbf
Sales and other operating revenuesg
Third parties – – – – 2,294 – 435 4,591 – 7,320
Sales between businesses – – – – – – 9,679 14 – 9,693
– – – – 2,294 – 10,114 4,605 – 17,013
Exploration expenditure – – – – – – 126 1 – 127
Production costs – – – – 586 – 1,177 382 – 2,145
Production taxes – – – – 630 – 4,511 3,383 – 8,524
Other costs (income) – – – – 6 – 94 – – 100
Depreciation, depletion and
amortization – – – – 317 – 1,232 648 – 2,197
Net impairments and losses on sale of
businesses and fixed assets – – – – – – 37 – – 37
– – – – 1,539 – 7,177 4,414 – 13,130
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
Upstream, Rosneft and TNK-BP segments replacement cost profit before interest and tax from equity-accounted entities
Exploration and production activities –
equity-accounted entities after tax
(as above) – – – – 295 – 2,570 151 – 3,016
Midstream and other activities after
taxh– 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 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. Amounts
relating to the management and ownership of crude oil and natural gas pipelines, LNG liquefaction and transportation operations 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.
fAmendments have been made to previously published numbers for the Rest of Asia region. The amendments have no overall effect on results of operations.
gPresented net of transportation costs and sales taxes.
hIncludes interest and adjustment for non-controlling interests. Excludes inventory holding gains and losses.
Financial statements
BP Annual Report and Form 20-F 2015 175