BP 2015 Annual Report Download - page 180

Movements in estimated net proved reserves
million barrels
Crude oilab 2015
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 159 95 1,030 9 10 317 – 384 40 2,044
Undeveloped 329 22 664 163 22 120 – 197 19 1,538
488 117 1,694 172 32 437 – 581 59 3,582
Changes attributable to
Revisions of previous estimates (23) 2 (130) 39 (2) 80 – 295 (2) 260
Improved recovery – – 15 – – 2 – – – 18
Purchases of reserves-in-place 1––– –6–– – 7
Discoveries and extensions ––342 –2–– –47
Productiond(27) (14) (115) (1) (5) (98) – (87) (6) (353)
Sales of reserves-in-place (1)––– –––– – (1)
(48) (12) (227) 80 (6) (8) – 208 (8) (21)
At 31 Decembere
Developed 141 86 890 46 8 340 – 598 35 2,146
Undeveloped 298 19 577 205 18 89 – 192 16 1,414
440 106 1,467 252 26 429 – 790 51 3,560
Equity-accounted entities (BP share)f
At 1 January
Developed – – – – 316 2 2,997 89 – 3,405
Undeveloped – – – – 314 – 1,933 11 – 2,258
– – – 1 630 2 4,930 101 – 5,663
Changes attributable to
Revisions of previous estimates – – – – 9 – (23) 3 – (11)
Improved recovery –––– 3––– – 3
Purchases of reserves-in-place –––– ––28– –28
Discoveries and extensions – – – – 9 – 185 – – 194
Production – – – – (28) – (295) (35) – (358)
Sales of reserves-in-place – – – – – – (1) – – (1)
– – – – (8) – (105) (32) – (146)
At 31 Decemberg
Developed – – – – 311 2 2,844 68 – 3,225
Undeveloped – – – – 311 – 1,981 – – 2,292
– – – – 622 2 4,825 68 – 5,517
Total subsidiaries and equity-accounted entities (BP share)
At 1 January
Developed 159 95 1,030 9 326 319 2,997 473 40 5,448
Undeveloped 329 22 664 164 336 120 1,933 208 19 3,796
488 117 1,694 173 662 439 4,930 682 59 9,244
At 31 December
Developed 141 86 890 47 319 342 2,844 666 35 5,371
Undeveloped 298 19 577 205 329 89 1,981 192 16 3,707
440 106 1,467 252 648 431 4,825 858 51 9,078
aCrude oil includes condensate and bitumen. Proved 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 component parts.
cProved reserves in the Prudhoe Bay field in Alaska include an estimated 23 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.
dIncludes 8 million barrels of crude oil in respect of the 30% non-controlling interest in BP Trinidad and Tobago LLC.
eVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
fIncludes 70 million barrels of crude oil in respect of the 1.27% non-controlling interest in Rosneft, including 28 mmbbl held through BP’s equity-accounted interest in Taas-Yuryakh Neftegazodobycha.
gTotal proved crude oil reserves held as part of our equity interest in Rosneft is 4,823 million barrels, comprising less than 1 million barrels in Vietnam and Canada, 26 million barrels in Venezuela and
4,797 million barrels in Russia.
176 BP Annual Report and Form 20-F 2015