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

Business reviewhttp://www.bp.com/downloads/oilandgasproductionNatural gasSubsidiariesmillion cubic feet per dayBP net share of production aField or area 2011 2010 2009UK b Bruce/Rhum c 20 100 110Other 335 372 508Total UK 355 472 618Norway b Various 13 15 16Total Rest of Europe 13 15 16Total Europe 368 487 634Lower 48 onshore b San Juan c 603 629 659Jonah c 145 185 227Anadarko 141 137 146Arkoma Central 136 164 194Wamsutter c 122 126 146Arkoma East 115 112 67Arkoma West 109 128 65Other 274 394 451Total Lower 48 onshore Total 1,645 1,875 1,955Gulf of Mexico deepwater b Various 176 263 303Alaska Various 22 46 58Total US 1,843 2,184 2,316Canada b Various 14 202 263Total Rest of North America 14 202 263Total North America 1,857 2,386 2,579Trinidad & Tobago Mango c 308 544 664Cashima/NEQB c 570 679 571Kapok c 464 541 540Cannonball c 99 156 225Amherstia c 296 252 197Other c 456 301 233Total Trinidad 2,193 2,473 2,430Colombia b Various 4 71 62Total South America 2,197 2,544 2,492Egypt b Temsah 74 90 118Ha’py c 99 73 94Taurt c 61 75 73Other 210 192 177Total Egypt 444 430 462Algeria Total 114 126 159Total Africa 558 556 621Pakistan b Various c 73 150 173Azerbaijan Various c 140 132 126Western Indonesia b 59 70 106India b KGD6 121 – –Other 25 – –Total India 146 – –Vietnam b Various c 69 77 63China Yacheng 70 95 83Oman 20 – –Sharjah Various c 41 50 59Total Rest of Asia 618 574 610Total Asia 618 574 610Australia Perseus/Athena 170 165 142Goodwyn 72 118 139Angel 126 133 120Other 87 46 39Total Australia 455 462 440Eastern Indonesia Tangguh c 340 323 74Total Australasia 795 785 514Total subsidiaries d 6,393 7,332 7,450Equity-accounted entities (BP share)Russia – TNK-BP b Various 699 640 601Total Russia 699 640 601Western Indonesia Various 26 30 31Vietnam b 8 – –Kazakhstan b Various – – 11Total Rest of Asia 34 30 42Total Asia 733 670 643Argentina Various 371 379 378Bolivia b Various 14 11 11Venezuela b Various 7 9 3Total South America 392 399 392Total equity-accounted entities d 1,125 1,069 1,035Total subsidiaries and equity-accounted entities 7,518 8,401 8,485a Production excludes 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 and salesarrangements independently.b In 2011, BP sold its holdings in Venezuela and Vietnam to TNK-BP. It also made acquisitions in India through a joint venture with Reliance, in the Eagle Ford shale in North America and additionalvolumes in the US Gulf of Mexico. BP divested its holdings in Pompano along with other interests in the US Gulf of Mexico, Tuscaloosa and interests in South Texas in the US onshore, Wytch Farm inthe UK, minor volumes in Canada and the remainder of our interests in Colombia and Pakistan. In 2010, BP divested its Permian Basin assets in Texas and south-east New Mexico, the East Badr El-Dinconcession in Egypt, its Canada gas assets and reduced its interest in the King field in the Gulf of Mexico. It also acquired an increased holding in the Valhall and Hod fields in the Norwegian North Sea.Four other producing fields in the Gulf of Mexico that were acquired during 2010 were subsequently disposed of in early 2011. In 2009, BP assumed operatorship of the Mirpurkhas and Khipro blocks inPakistan, swapped a number of assets with BG Group plc. in the UK sector of the North Sea, divested some minor interests in the US Lower 48, divested its holdings in Indonesia’s Offshore NorthwestJava to Pertamina, divested its interests in LukArco to Lukoil and the Bolivian government nationalized, with compensation payable, Pan American Energy’s shares of Chaco.c BP-operated.d Natural gas production volumes exclude gas consumed in operations within the lease boundaries of the producing field, but the related reserves are included in the group’s reserves.Business review: BP in more depthBP Annual Report and Form 20-F 2011 93