ANNUAL REPORT 2005 - Lukoil
ANNUAL REPORT 2005 - Lukoil
ANNUAL REPORT 2005 - Lukoil
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FINANCIAL ACCOUNTS<br />
Group's share in equity companies <strong>2005</strong> 2004 2003<br />
Discounted present value as at January 1 1,940 1,115 1,365<br />
Net changes due to purchases and sales of minerals in place (473) (20) (457)<br />
Sales and transfers of oil and gas produced, net of production costs (565) (562) (225)<br />
Net changes in prices and production costs estimates 1,934 787 158<br />
Extensions, discoveries, and improved recovery, less related costs 62 64 -<br />
Development costs incurred during the period 124 117 127<br />
Revisions of previous quantity estimates (82) 388 218<br />
Net change in income taxes (432) (224) (121)<br />
Other changes (88) 143 (67)<br />
Accretion of discount 239 132 117<br />
Discounted present value at December 31 2,659 1,940 1,115<br />
Total <strong>2005</strong> 2004 2003<br />
Discounted present value as at January 1 37,046 32,373 23,447<br />
Net changes due to purchases and sales of minerals in place 1,288 11 (441)<br />
Sales and transfers of oil and gas produced, net of production costs (8,336) (6,822) (3,750)<br />
Net changes in prices and production costs estimates 20,720 6,668 9,136<br />
Extensions, discoveries, and improved recovery, less related costs 2,681 1,612 1,049<br />
Development costs incurred during the period 2,619 2,100 1,655<br />
Revisions of previous quantity estimates (402) (28) 1,381<br />
Net change in income taxes (5,778) (1,308) (2,988)<br />
Other changes 61 151 (182)<br />
Accretion of discount 4,848 2,289 3,066<br />
Discounted present value at December 31 54,747 37,046 32,373<br />
174
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