Annual Report and Accounts 2009 - BG Group

More documents

Recommendations

Info

126 Financial Statements Historical production (unaudited) www.bg-group.com Gas production (net) bcf Oil & liquids production (net) ’000 barrels 2009 2008 2007 2009 2008 2007 Australia 34.2 5.2 – 60 10 – Bolivia 23.4 28.4 27.1 800 930 994 Brazil – – – 710 – – Canada 10.0 0.5 4.8 – – 56 Egypt 338.7 332.0 324.4 1 640 1 870 2 503 India 54.9 66.0 53.1 4 530 4 460 4 825 Kazakhstan 94.4 89.6 86.8 25 720 24 840 25 138 Mauritania – – – – – 28 Thailand 43.2 49.3 50.7 1 480 1 560 1 448 Trinidad and Tobago 174.9 153.7 136.5 770 450 298 Tunisia 67.9 58.1 62.8 1 330 1 310 1 405 UK 157.3 181.9 192.2 29 390 30 470 27 200 USA 11.6 – – 40 – – Total (a) 1 010.5 964.7 938.4 66 470 65 900 63 895 2009 2008 2007 Total mmboe gas, oil & liquids (b) 234.9 226.7 220.3 (a) Production volumes include fuel gas. (b) Conversion factor of 6 bcf of gas to 1 mmboe.
Five year financial summary (unaudited) CONSOLIDATED INCOME STATEMENT for the year ended 31 December Group revenue and other operating income 10 468 12 759 8 158 7 674 5 424 Operating costs (6 482) (7 496) (5 329) (4 504) (3 517) Profit and losses on disposal of non-current assets and impairments (213) (24) 19 (49) 446 Operating profit 3 773 5 239 2 848 3 121 2 353 Finance income 67 276 152 127 105 Finance costs (182) (205) (124) (102) (112) Share of post-tax results from joint ventures and associates 204 158 163 139 158 Profit before tax 3 862 5 468 3 039 3 285 2 504 Taxation (1 598) (2 318) (1 239) (1 461) (939) Profit for the year Profit attributable to: 2 264 3 150 1 800 1 824 1 565 Shareholders (earnings) 2 168 3 127 1 746 1 779 1 525 Minority interests 96 23 54 45 40 Earnings per ordinary share (pence) 2 264 3 150 1 800 1 824 1 565 Basic 64.5 93.4 51.6 51.4 43.1 Diluted 64.0 92.5 51.1 51.0 42.9 CONSOLIDATED BALANCE SHEET as at 31 December Non-current assets 21 070 18 156 10 325 8 464 8 210 Current assets 5 212 6 840 5 065 4 139 3 385 Assets classified as held for sale – – – 85 10 Total assets 26 282 24 996 15 390 12 688 11 605 Current liabilities (5 148) (6 488) (3 884) (2 819) (2 509) Non-current liabilities (6 749) (5 624) (4 149) (3 370) (2 826) Liabilities associated with assets classified as held for sale – – – (34) (3) Total liabilities (11 897) (12 112) (8 033) (6 223) (5 338) Net assets Equity 14 385 12 884 7 357 6 465 6 267 Total shareholders’ equity 14 186 12 758 7 225 6 363 6 169 Minority interest in equity 199 126 132 102 98 Total equity 14 385 12 884 7 357 6 465 6 267 OTHER INFORMATION as at 31 December 2009 2008 2007 2006 2005 Net (borrowings)/funds (a) £m (2 956) (972) 25 (103) (30) Gearing ratio (b) % 16.9 7.1 (0.3) 1.6 0.4 Debt/equity ratio (c) % 20.4 7.7 (0.3) 1.6 0.5 Employee numbers (headcount) thousands 6.2 5.9 5.1 4.8 5.4 (a) Net borrowings/funds comprise cash and cash equivalents, finance leases, currency and interest rate derivative financial instruments and short and long-term borrowings. (b) Gearing ratio represents net borrowings/funds as a percentage of total shareholders’ funds (excluding balances associated with commodity financial instruments and related deferred tax) plus net borrowings/funds. (c) Debt/equity ratio represents net borrowings/funds as a percentage of total shareholders’ funds (excluding balances associated with commodity financial instruments and related deferred tax). 2009 £m 2009 £m 2008 £m 2008 £m 2007 £m 2007 £m 2006 £m 2006 £m 2005 £m 2005 £m BG Group Annual Report and Accounts 2009 127 Directors’ Report Business Review Directors’ Report Corporate Governance Financial Statements Shareholder Information
Page 1 and 2:
A world leader in natural gas Annua
Page 3 and 4:
Contents Directors’ Report: Busin
Page 5 and 6:
ALGERIA UK NORWAY TUNISIA ITALY LIB
Page 7 and 8:
E&P production (mmboe) 250 200 150
Page 9 and 10:
Governance and risk One of the most
Page 11 and 12:
Sustainability and safety BG Group
Page 13 and 14:
Performance A cost leader BG Group
Page 15 and 16:
Australia QGC BG Group has made sig
Page 17 and 18:
Outlook Market context The challeng
Page 19 and 20:
The Buzzard field (BG Group 21.73%)
Page 21 and 22:
FPSOs, with the first targeted to c
Page 23 and 24:
Dragon LNG, UK During 2009, work on
Page 25 and 26:
Power Generation BG Group has a pro
Page 27 and 28:
expenditure was £1 651 million (20
Page 29 and 30:
and associates amounted to approxim
Page 31 and 32:
BG Group uses a range of long-term
Page 33 and 34:
Commodity prices Principal risks an
Page 35 and 36:
Credit Principal risks and uncertai
Page 37 and 38:
communities, partners, contractors,
Page 39 and 40:
involved. In 2009, BG Group complet
Page 41 and 42:
4 5 6 10 11 7. Jürgen Dormann Non-
Page 43 and 44:
3 4 5 8 9 10 5. Robert Booker Execu
Page 45 and 46:
A DIRECTORS The Board The Board is
Page 47 and 48:
evaluation. Accordingly, during 200
Page 49 and 50:
Board Committees Sustainability Com
Page 51 and 52:
Audit Committee and auditors Lord S
Page 53 and 54:
Other external advisers also provid
Page 55 and 56:
TSR performance for the Performance
Page 57 and 58:
Director’s length of service. Fur
Page 59 and 60:
DEFERRED BONUS PLAN Award date Ashl
Page 61 and 62:
DIRECTORS’ INTERESTS IN ORDINARY
Page 63 and 64:
Directors’ pension provisions wer
Page 65 and 66:
Share capital In order to enable th
Page 67 and 68:
Financial Statements Independent Au
Page 69 and 70:
REVENUE RECOGNITION Revenue associa
Page 71 and 72:
Consolidated income statement Notes
Page 73 and 74:
Balance sheets as at 31 December As
Page 75 and 76:
Statements of changes in equity Cal
Page 77 and 78: Notes to the accounts 1 NEW ACCOUNT
Page 79 and 80: 2 SEGMENTAL ANALYSIS AND RESULTS PR
Page 81 and 82: 2 SEGMENTAL ANALYSIS AND RESULTS PR
Page 83 and 84: 3 OPERATING COSTS Included within t
Page 85 and 86: 4 DIRECTORS AND EMPLOYEES A) DIRECT
Page 87 and 88: 4 DIRECTORS AND EMPLOYEES continued
Page 89 and 90: 5 DISPOSALS, RE-MEASUREMENTS AND IM
Page 91 and 92: 8 DIVIDENDS £m 2009 2008 Pence per
Page 93 and 94: 12 PROPERTY, PLANT AND EQUIPMENT TH
Page 95 and 96: 13 INVESTMENTS continued THE COMPAN
Page 97 and 98: 17 BORROWINGS continued The effecti
Page 99 and 100: 18 FINANCIAL INSTRUMENTS continued
Page 105 and 106: 21 DEFERRED TAX Deferred taxes are
Page 107 and 108: 23 COMMITMENTS AND CONTINGENCIES co
Page 109 and 110: 25 PENSIONS AND POST-RETIREMENT BEN
Page 111 and 112: 25 PENSIONS AND POST-RETIREMENT BEN
Page 113 and 114: 26 NOTES TO THE CASH FLOW STATEMENT
Page 115 and 116: 27 PRINCIPAL SUBSIDIARY UNDERTAKING
Page 117 and 118: CONDENSED CONSOLIDATED INCOME STATE
Page 119 and 120: Special Purpose Auditors’ Report
Page 121 and 122: A) RESERVES ESTIMATED NET PROVED RE
Page 123 and 124: B) STANDARDISED MEASURE OF DISCOUNT
Page 125 and 126: C) CAPITALISED COSTS Capitalised co
Page 127: E) RESULTS OF OPERATIONS The result
Page 131 and 132: Shareholder Information Presentatio
Page 133 and 134: Index Item Page Accountants’ fees
Page 135 and 136: SHAREHOLDER PROFILE as at 31 Decemb
Page 137 and 138: the Directors may determine and oth
Page 139 and 140: ordinary share capital (excluding t
Page 141 and 142: Appointing a corporate representati
Page 144: BG Group plc 100 Thames Valley Park
show all

Annual Report and Accounts 2009 - BG Group

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?