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

Supplementary information on oil and natural gas (unaudited)Movements in estimated net proved reserves continuedmillion barrels of oil equivalentEurope US eTotal hydrocarbons a 2010EuropeNorthSouth Africa Asia Australasia TotalAmericaAmericaUKAmericaRussia AsiaRest ofRest ofNorthRest ofSubsidiariesAt 1 January 2010Developed 680 91 3,514 135 596 613 – 455 612 6,696Undeveloped 406 253 2,183 79 1,331 704 – 376 593 5,9251,086 344 5,697 214 1,927 1,317 – 831 1,205 12,621Changes attributable toRevisions of previous estimates 18 2 (364) (2) (1) (61) – (87) (33) (528)Improved recovery 126 10 276 – 105 17 – 160 13 707Purchases of reserves-in-place – 38 22 – – – – 41 – 101Discoveries and extensions 36 1 207 2 4 257 – – – 507Production b f l (83) (16) (359) (15) (183) (127) – (83) (61) (927)Sales of reserves-in-place (1) – (190) (189) – (24) – – – (404)96 35 (408) (204) (75) 62 – 31 (81) (544)At 31 December 2010 c iDeveloped 608 84 3,366 10 660 600 – 491 662 6,481Undeveloped 574 295 1,923 – 1,192 779 – 371 462 5,5961,182 379 5,289 10 1,852 1,379 – 862 1,124 12,077Equity-accounted entities (BP share) gAt 1 January 2010Developed – – – – 623 – 2,645 377 – 3,645Undeveloped – – – – 580 37 1,287 122 – 2,026– – – – 1,203 37 3,932 499 – 5,671Changes attributable toRevisions of previous estimates – – – – (20) 6 314 (19) – 281Improved recovery – – – – 83 – 269 2 – 354Purchases of reserves-in-place – – – – – – – – – –Discoveries and extensions – – – 179 4 – – – – 183Production b f – – – – (64) k m – (354) (73) – (491)Sales of reserves-in-place – – – – – – (4) – – (4)– – – 179 3 6 225 (90) – 323At 31 December 2010 dDeveloped – – – – 593 – 2,716 382 – 3,691Undeveloped – – – 179 613 43 1,441 27 – 2,303– – – 179 1,206 j 43 4,157 409 – 5,994Total subsidiaries and equity-accounted entities (BP share) hAt 1 January 2010Developed 680 91 3,514 135 1,219 613 2,645 832 612 10,341Undeveloped 406 253 2,183 79 1,911 741 1,287 498 593 7,9511,086 344 5,697 214 3,130 1,354 3,932 1,330 1,205 18,292At 31 December 2010Developed 608 84 3,366 10 1,253 600 2,716 873 662 10,172Undeveloped 574 295 1,923 179 1,805 822 1,441 398 462 7,8991,182 379 5,289 189 3,058 1,422 4,157 1,271 1,124 18,071aProved reserves exclude royalties due to others, whether payable in cash or in kind, where the royalty owner has a direct interest in the underlying production and the option and ability to make lifting andsales arrangements independently.bExcludes NGLs from processing plants in which an interest is held of 29 thousand barrels of oil equivalent per day.cIncludes 643 million barrels of NGLs. Also includes 526 million barrels of oil equivalent in respect of the 30% minority interest in BP Trinidad and Tobago LLC.dIncludes 18 million barrels of NGLs. Also includes 278 million barrels of oil equivalent in respect of the minority interest in TNK-BP.eProved reserves in the Prudhoe Bay field in Alaska include an estimated 78 million barrels of oil equivalent upon which a net profits royalty will be payable.fIncludes 35 million barrels of oil equivalent of natural gas consumed in operations, 28 million barrels of oil equivalent in subsidiaries, 7 million barrels of oil equivalent in equity-accounted entities andexcludes 2 million barrels of oil equivalent of produced non-hydrocarbon components which meet regulatory requirements for sales.gVolumes of equity-accounted entities include volumes of equity-accounted investments of those entities.h Includes 1,311 million barrels of oil equivalent (197 million barrels of oil equivalent for subsidiaries and 1,114 million barrels of oil equivalent for equity-accounted entities) associated with propertiescurrently held for sale where the disposal has not yet been completed.i Includes 197 million barrels of oil equivalent relating to assets held for sale at 31 December 2010. Amounts by region are: 34 million barrels of oil equivalent in US; 64 million barrels of oil equivalent inSouth America; and 99 million barrels of oil equivalent in Rest of Asia.jIncludes 222 million barrels of oil equivalent relating to assets held for sale at 31 December 2010.k Includes 2 million barrels of oil equivalent sold relating to production since classification of equity-accounted entities as held for sale.lIncludes 38 million barrels of oil equivalent (excluding gas consumed in operations) relating to production from assets held for sale at 31 December 2010. Amounts by region are: 6 million barrels of oilequivalent in US; 11 million barrels of oil equivalent in South America; and 21 million barrels of oil equivalent in Rest of Asia.m Includes 9 million barrels of oil equivalent (excluding gas consumed in operations) relating to production from assets held for sale at 31 December 2010.Financial statementsBP Annual Report and Form 20-F 2011 273