Occidental Petroleum 2002 Annual Report Download - page 95

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SUPPLEMENTAL OIL AND GAS INFORMATION (Unaudited)
The following tables set forth Occidental's net interests in quantities of
proved developed and undeveloped reserves of crude oil, condensate and natural
gas and changes in such quantities. Crude oil reserves (in millions of barrels)
include condensate. The reserves are stated after applicable royalties.
Estimates of reserves have been made by Occidental engineers. These estimates
include reserves in which Occidental holds an economic interest under
production-sharing contracts and other economic arrangements.
OIL RESERVES
In millions of barrels
Consolidated Subsidiaries
--------------------------------------------------------
Middle East
and Other
United Latin Eastern Other Total
States America Hemisphere Total Interests(a) Worldwide
========================================= =========== =========== =========== =========== =========== ===========
PROVED DEVELOPED AND UNDEVELOPED RESERVES
BALANCE AT DECEMBER 31, 1999 464 247 273 984 53 1,037
Revisions of previous estimates 29 12 21 62 1 63
Improved recovery 41 -- 1 42 -- 42
Extensions and discoveries 24 6 7 37 (1) 36
Purchases of proved reserves 881 19 -- 900 -- 900
Sales of proved reserves (30) (120) -- (150) -- (150)
Production (c) (63) (20) (34) (117) (8) (125)
----------------------------------------- ----------- ----------- ----------- ----------- ----------- -----------
BALANCE AT DECEMBER 31, 2000 (B) 1,346 144 268 1,758 45 1,803
Revisions of previous estimates (14) 10 25 21 8 29
Improved recovery 92 -- 47 139 -- 139
Extensions and discoveries 22 10 24 56 -- 56
Purchases of proved reserves 3 -- -- 3 -- 3
Sales of proved reserves -- -- -- -- -- --
Production (c) (78) (12) (34) (124) (9) (133)
----------------------------------------- ----------- ----------- ----------- ----------- ----------- -----------
BALANCE AT DECEMBER 31, 2001 (B) 1,371 152 330 1,853 44 1,897
Revisions of previous estimates 28 13 (28) 13 (1) 12
Improved recovery 69 1 42 112 5 117
Extensions and discoveries 22 11 7 40 -- 40
Purchases of proved reserves 51 -- 5 56 2 58
Sales of proved reserves (4) -- -- (4) -- (4)
Production (85) (19) (38) (142) (8) (150)
----------------------------------------- ----------- ----------- ----------- ----------- ----------- -----------
BALANCE AT DECEMBER 31, 2002 (B) 1,452 158 318 1,928 42 1,970
========================================= =========== =========== =========== =========== =========== ===========
PROVED DEVELOPED RESERVES
December 31, 1999 339 162 195 696 41 737
=========== =========== =========== =========== =========== ===========
December 31, 2000 1,079 90 205 1,374 36 1,410
=========== =========== =========== =========== =========== ===========
December 31, 2001 1,106 91 240 1,437 35 1,472
=========== =========== =========== =========== =========== ===========
DECEMBER 31, 2002 1,183 85 240 1,508 34 1,542
========================================= =========== =========== =========== =========== =========== ===========
(a) Includes reserves applicable to equity investees in Russia and Yemen,
partially offset by minority interests for a Colombian affiliate.
(b) Includes proved reserves from production-sharing contracts in the Middle
East and Other Eastern Hemisphere and from other economic arrangements in
the United States, in million barrels of oil as follows:
2002 2001 2000
================================================== ========== ========== ==========
United States 94 99 87
Middle East and Other Eastern Hemisphere 304 321 258
Other Interests 2 -- --
-------------------------------------------------- ---------- ---------- ----------
(c) Production excludes 3.1 million barrels for 2001 and 3.2 million barrels
for 2000, which were subject to volumetric production payments.