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 continuedEuropeRest ofEuropeNorthAmericaRest ofNorthUS AmericaSouthAmerica$ million2009Africa Asia Australasia TotalUKRussiaEquity-accounted entities (BP share) aCapitalized costs at 31 December bGross capitalized costsProved properties – – – – 5,789 – 13,266 2,259 – 21,314Unproved properties – – – 1,378 197 – 737 – – 2,312– – – 1,378 5,986 – 14,003 2,259 – 23,626Accumulated depreciation – – – – 2,084 – 5,550 1,739 – 9,373Net capitalized costs – – – 1,378 3,902 – 8,453 520 – 14,253Rest ofAsiaCosts incurred for the year ended 31 December bAcquisition of properties cProved – – – – – – – – – –Unproved – – – – 31 – 10 – – 41– – – – 31 – 10 – – 41Exploration and appraisal costs d – – – – 21 – 77 3 – 101Development – – – 30 538 – 1,182 246 – 1,996Total costs – – – 30 590 – 1,269 249 – 2,138Results of operations for the year ended 31 DecemberSales and other operating revenues eThird parties – – – – 1,977 – 4,919 1,874 – 8,770Sales between businesses – – – – – – 2,838 – – 2,838– – – – 1,977 – 7,757 1,874 – 11,608Exploration expenditure – – – – 23 – 37 – – 60Production costs – – – – 354 – 1,428 159 – 1,941Production taxes – – – – 702 – 2,597 1,523 – 4,822Other costs (income) – – – – (69) – 12 (2) – (59)Depreciation, depletion and amortization – – – – 281 – 1,073 274 – 1,628Impairments and losses on sale ofbusinesses and fixed assets – – – – – – 72 – – 72– – – – 1,291 – 5,219 1,954 – 8,464Profit (loss) before taxation – – – – 686 – 2,538 (80) – 3,144Allocable taxes – – – – 270 – 501 – – 771Results of operations – – – – 416 – 2,037 (80) – 2,373Exploration and production activities –equity-accounted entities aftertax (as above) – – – – 416 – 2,037 (80) – 2,373Midstream and other activities after tax f – 5 29 134 214 56 (113) 611 – 936Total replacement cost profitafter interest and tax – 5 29 134 630 56 1,924 531 – 3,309aThese tables contain information relating to oil and natural gas exploration and production activities of equity-accounted entities. Midstream activities relating to the management and ownership of crude oil andnatural gas pipelines, processing and export terminals and LNG processing facilities and transportation as well as downstream activities of TNK-BP are excluded. The amounts reported for equity-accountedentities 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, purchases and sales taxes.fIncludes interest, minority interest and the net results of equity-accounted entities of equity-accounted entities.Financial statementsBP Annual Report and Form 20-F 2011 265