BP Annual Report and Form 20-F 2011 - Company Reporting

Supplementary information on oil and natural gas (unaudited)Oil and natural gas exploration and production activities continuedEuropeUKRest ofEuropeNorthAmericaRest ofNorthUS AmericaSouthAmerica$ million2011Africa Asia Australasia TotalEquity-accounted entities (BP share) aCapitalized costs at 31 December bGross capitalized costsProved properties – – – 168 6,562 – 16,214 3,571 – 26,515Unproved properties – – – 1,510 19 – 652 9 – 2,190– – – 1,678 6,581 – 16,866 3,580 – 28,705Accumulated depreciation – – – – 2,644 – 6,978 3,017 – 12,639Net capitalized costs – – – 1,678 3,937 – 9,888 563 – 16,066RussiaRest ofAsiaCosts incurred for the year ended 31 December bAcquisition of properties cProved – – – – – – – 46 – 46Unproved – – – – 6 – 37 – – 43– – – – 6 – 37 46 – 89Exploration and appraisal costs d – – – – 2 – 167 9 – 178Development – – – 251 587 – 1,862 435 – 3,135Total costs – – – 251 595 – 2,066 490 – 3,402Results of operations for the year ended 31 DecemberSales and other operating revenues eThird parties – – – – 2,381 – 7,380 3,828 – 13,589Sales between businesses – – – – – – 5,149 23 – 5,172– – – – 2,381 – 12,529 3,851 – 18,761Exploration expenditure – – – – 10 – 72 1 – 83Production costs – – – – 459 – 1,846 212 – 2,517Production taxes – – – – 1,098 – 5,000 3,125 – 9,223Other costs (income) – – – – (239) – 2 (1) – (238)Depreciation, depletion and amortization – – – – 329 – 988 431 – 1,748Impairments and (gains) losses on sale ofbusinesses and fixed assets – – – – – – – – – –– – – – 1,657 – 7,908 3,768 – 13,333Profit (loss) before taxation – – – – 724 – 4,621 83 – 5,428Allocable taxes – – – – 294 – 806 19 – 1,119Results of operations – – – – 430 – 3,815 64 – 4,309Exploration and production activities –equity-accounted entities after tax(as above) – – – – 430 – 3,815 64 – 4,309Midstream and other activities after tax f – 12 10 58 168 69 280 509 – 1,106Total replacement cost profitafter interest and tax – 12 10 58 598 69 4,095 573 – 5,415aThese tables contain information relating to oil and natural gas exploration and production activities of equity-accounted entities. They do not include amounts relating to assets held for sale. Midstreamactivities relating to the management and ownership of crude oil and natural gas pipelines, processing and export terminals and LNG processing facilities and transportation as well as downstreamactivities of TNK-BP are excluded. The amounts reported for equity-accounted entities exclude the corresponding amounts for their equity-accounted entities.bDecommissioning assets are included in capitalized costs at 31 December but are excluded from costs incurred for the year.cIncludes costs capitalized as a result of asset exchanges.dIncludes exploration and appraisal drilling expenditures, which are capitalized within intangible assets, and geological and geophysical exploration costs, which are charged to income as incurred.ePresented net of transportation costs and sales taxes.fIncludes interest, minority interest and the net results of equity-accounted entities of equity-accounted entities, and excludes inventory holding gains and losses.Financial statementsBP Annual Report and Form 20-F 2011 261