BP 2015 Annual Report Download - page 184

Movements in estimated net proved reserves – continued
million barrels of oil equivalentc
Total hydrocarbonsab 2015
Europe North
America
South
America
Africa Asia Australasia Total
UK
Rest of
Europe USd
Rest of
North
America Russia
Rest of
Asia
Subsidiaries
At 1 January
Developed 232 160 2,588 12 426 477 – 675 618 5,187
Undeveloped 398 26 1,191 163 1,139 403 – 868 319 4,507
630 186 3,779 175 1,565 880 – 1,543 937 9,695
Changes attributable to
Revisions of previous estimates (22) 4 (403) 36 21 121 – 267 4 27
Improved recovery 1 – 102 – – 3 – – – 106
Purchases of reserves-in-place 1 – 15 – 5 102 – – – 122
Discoveries and extensions ––442 –32–– –79
Productionef (40) (23) (247) (2) (130) (144) – (114) (58) (758)
Sales of reserves-in-place (1) – (2) – (10) (6) – – – (19)
(62) (19) (531) 77 (114) 108 – 153 (55) (443)
At 31 Decemberg
Developed 207 145 2,238 46 373 492 – 909 632 5,041
Undeveloped 362 22 1,010 205 1,078 496 – 788 250 4,211
568 167 3,248 252 1,451 988 – 1,696 882 9,252
Equity-accounted entities (BP share)h
At 1 January
Developed – – – – 528 86 3,834 100 – 4,548
Undeveloped – – – 1 438 – 2,830 13 – 3,280
– – – 1 965 86 6,663 112 – 7,828
Changes attributable to
Revisions of previous estimates – – – (1) 23 (5) 255 3 – 274
Improved recovery –––– 5––– – 5
Purchases of reserves-in-place –––– ––29– –29
Discoveries and extensions – – – – 45 – 215 – – 260
Productionf– – – – (60) – (369) (39) – (467)
Sales of reserves-in-place – – – – – – (1) – – (1)
– – – (1) 12 (5) 129 (36) – 100
At 31 Decemberij
Developed – – – – 563 81 3,732 76 – 4,452
Undeveloped – – – – 415 – 3,061 1 – 3,476
– – – – 978 81 6,792 77 – 7,928
Total subsidiaries and equity-accounted entities (BP share)
At 1 January
Developed 232 160 2,588 12 954 563 3,834 775 618 9,735
Undeveloped 398 26 1,191 164 1,576 403 2,830 881 319 7,788
630 186 3,779 176 2,530 966 6,663 1,656 937 17,523
At 31 December
Developed 207 145 2,238 47 936 573 3,732 984 632 9,493
Undeveloped 362 22 1,010 205 1,493 496 3,061 788 250 7,687
568 167 3,248 252 2,429 1,069 6,792 1,773 882 17,180
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 component parts.
c5.8 billion cubic feet of natural gas = 1 million barrels of oil equivalent.
dProved reserves in the Prudhoe Bay field in Alaska include an estimated 23 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.
eExcludes NGLs from processing plants in which an interest is held of less than 1 thousand barrels per day for subsidiaries and 4 thousand barrels per day for equity-accounted entities.
fIncludes 30 million barrels of oil equivalent of natural gas consumed in operations, 25 million barrels of oil equivalent in subsidiaries, 5 million barrels of oil equivalent in equity-accounted entities.
gIncludes 425 million barrels of oil equivalent in respect of the 30% non-controlling interest in BP Trinidad and Tobago LLC.
hVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.
iIncludes 70 million barrels of oil equivalent in respect of the non-controlling interest in Rosneft, including 28 mmboe held through BP’s equity-accounted interest in Taas-Yuryakh Neftegazodobycha.
jTotal proved reserves held as part of our equity interest in Rosneft is 6,796 million barrels of oil equivalent, comprising less than 1 million barrels of oil equivalent in Canada, 28 million barrels of oil
equivalent in Venezuela, 4 million barrels of oil equivalent in Vietnam and 6,764 million barrels of oil equivalent in Russia.
180 BP Annual Report and Form 20-F 2015