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49
Oil and Gas Reserves
Crude Oil, Condensate and
Natural Gas Liquids Natural Gas
(Millions of barrels) (Millions of Mcf)
Africa, Africa,
United Asia and United Asia and
Total States Europe other(a) Total States Europe other(a)
Net Proved Developed and Undeveloped Reserves
At January 1, 1998 595 174 395 26 1,935 809 951 175
Revisions of previous estimates 80 6 72 2 147 35 113 (1)
Extensions, discoveries and other additions 55 6 22 27 227 80 54 93
Purchases of minerals in-place 45—243 312—
Sales of minerals in-place (5) — (5) — (47) (38) (9) —
Production (75) (17) (52) (6) (210) (107) (102) (1)
At December 31, 1998 695 169 434 92 2,055 780 1,009 266
Revisions of previous estimates 21 13 10 (2) 34 (32) 35 31
Extensions, discoveries and other additions 68 54914 942560 9
Purchases of minerals in-place 4—— 4 4 4——
Sales of minerals in-place (5) — — (5) (48) (48) — —
Production (85) (24) (55) (6) (235) (124) (106) (5)
At December 31, 1999 698 163 438 97 1,904 605 998 301
Revisions of previous estimates 45 9 31 5 42 2 33 7
Extensions, discoveries and other additions 27 7 16 4 104 43 47 14
Purchases of minerals in-place 88 1 4 83 10 8 2 —
Sales of minerals in-place (7) — (5) (2) (4) — (4) —
Production (96) (24) (65) (7) (249) (106) (131) (12)
At December 31, 2000 755 156 419 180 1,807 552(b) 945 310
Share of equity investee’s reserves(c)
At December 31, 1999 14 — 9 5 277 — 2 275
At December 31, 2000 11 — 7 4 320 — 4 316
Net Proved Developed Reserves
At January 1, 1998 420 123 280 17 1,342 497 796 49
At December 31, 1998 452 132 293 27 1,330 525 753 52
At December 31, 1999 513 136 351 26 1,437 477 841 119
At December 31, 2000 573 140 353 80 1,429 476 842 111
Share of equity investee’s reserves(c)
At December 31, 1999 10 — 8 2 87 — 2 85
At December 31, 2000 9 — 5 4 199 — 2 197
(a) Includes estimates of reserves under production sharing contracts.
(b) Excludes 449 million Mcf of carbon dioxide gas for sale or use in company operations.
(c) Reserves for 1998 are not available on a comparable basis.
that will require substantial future development expendi-
tures. The estimates of the Corporation’s proved reserves
of crude oil and natural gas (after deducting royalties and
operating interests owned by others) follow:
The Corporation’s net oil and gas reserves have been
estimated by DeGolyer and MacNaughton, independent
consultants. The reserves in the tabulation below include
proved undeveloped crude oil and natural gas reserves