Exploration and Production

Transcription

1 Explortion n Proution 34 Ky initors 34 Finnil sttistis 35 TNK-BP oprtionl n finnil informtion 36 Oil n nturl gs informtion 42 Movmnts in stimt nt prov rsrvs 43 Movmnts in stimt nt prov rsrvs ru oil 48 Movmnts in stimt nt prov rsrvs nturl gs 48 Yr-n stimt nt prov rsrvs ru oil n nturl gs 53 Group proution intrsts ru oil (inlus NGLs n onnst) 54 Group proution intrsts nturl gs 55 Group proution intrsts oil n nturl gs 56 Explortion intrsts 57 Explortion n vlopmnt wlls 58 Liqufi nturl gs projts 31

2 Finnil n Oprting Informtion Explortion n Proution BP s usinss fins, vlops n prous oil n gs, n trnsports it to mrkt. W oprt in 30 ountris n mploy pproximtly 21,500 popl. Our strtgy is to invst to grow proution sfly, rlily n ffiintly y: Strngthning our portfolio of lrship positions in th worl s most prolifi hyroron sins, nl y th vlopmnt n pplition of thnology n strong rltionships s on mutul vntg. Sustinly riving ost n pitl ffiiny in ssing, fining, vloping n prouing rsours, nl y p thnil pility n ultur of ontinuous improvmnt ws nothr sussful yr. Rport proution grw y 4% n unit proution osts wr own y 12%. It ws th 17th onsutiv yr tht w rpl mor rsrvs of oil n gs thn w prou, livring rport rsrvs rplmnt of 129%. Our xplortion trk ror ontinu with th Tir isovry in th pwtr Gulf of Mxio, thr furthr isovris in th ultr pwtr Blok 31 in Angol, n in Cn, whr w isovr nturl gs with th Elli J27 wll. W wr lso sussful in ssing sustntil nw rsour opportunitis in Irq, Egypt, th Gulf of Mxio, Inonsi n Jorn. In 2009 w rought onstrm th Tngguh LNG projt in Inonsi plus six othr mjor projts, inluing thr strt-ups h of shul in th pwtr Gulf of Mxio n two projts in TNK-BP in Russi. BP susiiry Equity-ount ntity E&P mjor projts in mor til p.om/upstrmmjorprojts 32

3 Finnil n Oprting Informtion Ths mps illustrt mjor rs of proution in For mor informtion on projts, lik on th rlvnt hyprlink. Th links will tk you to ontnt on tht os not form prt of BP Finnil n Oprting Informtion

4 Finnil n Oprting Informtion Ky initors Rsult n oil pri Rplmnt ost profit for intrst n tx ($ illion) BP vrg liquis rliztions ($/l) Fining n vlopmnt osts ($ pr rrl of oil quivlnt ($/o), fiv-yr rolling vrg) f Fining osts ($/o, fiv-yr rolling vrg) g Proution osts ($/o) h Cost of supply ($/o) i Nt inom pr rrl of oil quivlnt ($/o) BP susiiris n quity-ount ntitis ($/o) BP susiiris n quity-ount ntitis xluing TNK-BP ($/o) Rng of othr oil mjors Mximum ($/o) Minimum ($/o) Rsrvs rplmnt BP susiiris (%) j BP susiiris n quity-ount ntitis (%) j Rng of othr oil mjors k Mximum (%) Minimum (%) Expt whr init, ll th t in this tl rlts to BP susiiris only. Inlus quity-ount ntitis. Cru oil n NGLs. Rliztions r s on sls of onsolit susiiris only, whih xlus quity-ount ntitis. Rsrvs lult on n SEC sis. f Fining osts r fin in footnot g. Dvlopmnt osts inlu xpnitur on onstrution, instlltion or ompltion of infrstrutur filitis suh s pltforms, piplins n th rilling of vlopmnt wlls, inluing srvi n unsussful vlopmnt wlls, tht is pitliz within proprty, plnt n quipmnt. g Fining osts inlus xplortion n pprisl rilling xpniturs, whih r pitliz within intngil ssts, n gologil n gophysil xplortion osts, whih r hrg to inom s xpns. h Proution osts r osts inurr to oprt n mintin wlls n rlt quipmnt n filitis. Amounts o not inlu vlorm n svrn txs. i Cost of supply ompriss xplortion xpnitur, proution osts n prition, pltion n mortiztion. j Rsrvs rplmnt for 2006, 2007, 2008 n 2009 lult on n SEC sis. k BP stimts of rsrvs rplmnt of othr oil mjors, whih xlu on-tim ooking of oil sns n ful gs. Finnil sttistis Rplmnt ost profit for intrst n tx US 10,118 10,002 7,929 11,724 6,685 Non-US 16,190 21,024 19,673 26,584 18,115 26,308 31,026 27,602 38,308 24,800 Oprting pitl mploy US 27,555 27,687 30,341 35,807 39,209 Non-US 45,330 49,601 54,278 56,950 61,945 72,885 77,288 84,619 92, ,154 Sls n othr oprting rvnus 61,893 67,950 65,740 86,170 57,626 Cpitl xpnitur n quisitions US 3,932 4,655 5,096 10,359 6,169 Non-US 6,466 8,597 9,111 11,868 8,727 10,398 13,252 14,207 22,227 14,896 Employ numrs t yr n 18,900 21,400 21,800 21,400 21,500 BP vrg rliztions BP vrg liquis rliztions ($/l) BP vrg nturl gs rliztions ($/mf) Mrkr pris Brnt oil ($/l) Alsk North Slop oil ($/l) Wst Txs Intrmit ($/l) Mrs oil ($/l) Hnry Hu gs pri ($ pr million British thrml units) Cru oil n NGLs. Hnry Hu First of Month Inx. $ million 34

5 Finnil n Oprting Informtion TNK-BP oprtionl n finnil informtion Proution (BP shr, nt of royltis) Cru oil (thousn rrls pr y) Nturl gs (million ui ft pr y) Totl hyrorons (thousn rrls of oil quivlnt pr y (mo/)) $ million Inom sttmnt (BP shr) Profit for intrst n tx 3,817 4,616 3,743 3,588 3,178 Finn osts (128) (192) (264) (275) (220) Txtion (976) (1,467) (993) (882) (871) Minority intrst (104) (193) (215) (169) (139) Profit for th yr 2,609 2,764 2,271 2,262 1,948 Exlus unwining of isount on frr onsirtion Bln sht Invstmnt in jointly ontroll ntitis 8,089 8,353 8,817 8,939 Invstmnt in ssoits 9,141 Dfrr onsirtion u within on yr 1,227 Csh flow Divins riv 1,950 3,271 1,300 2,140 1,656 Divins rivl 771 Avrg oil mrkr pris $ pr rrl Urls (NWE if) Russin omsti oil Our invstmnt in TNK-BP ws rlssifi from jointly ontroll ntity to n ssoit with fft from 9 Jnury 2009, th t tht BP finliz rvis shrholr grmnt with its Russin prtnrs in TNK-BP, Alf Ass-Rnov (AAR). Th formrly vnly-ln min or strutur hs n rpl y on with four rprsnttivs h from BP n AAR, plus thr inpnnt irtors. Th hng in ounting lssifition from jointly ontroll ntity to n ssoit rflt th ility of th inpnnt irtors of TNK-BP to i on rtin mttrs in th vnt of isgrmnt twn th shrholr rprsnttivs on th or. Th group s invstmnt ontinus to ount for using th quity mtho. Nturl gs is onvrt to oil quivlnt t 5.8 illion ui ft = 1 million rrls inlus nt gin of $270 million on th isposl of non-or prouing ssts in th Srtov rgion, long with th Orsk rfinry inlus nt gin of $892 million on th isposl of th Umurtnft ssts inlus nt gin of $102 million rlt to th sl of TNK-BP s oil fil srvis ntrpriss to Wthrfor Intrntionl inlus $771-million ivin lr in

6 Finnil n Oprting Informtion Oil n nturl gs informtion Th rgionl nlysis prsnt low, on pgs 36 to 52, is on ontinnt sis, with sprt islosur for ountris tht ontin 15% or mor of th totl prov rsrvs (for susiiris plus quity-ount ntitis), in orn with rvis SEC n FASB rquirmnts. Th omprtiv informtion for 2008, 2007, 2006 n 2005 is lso prsnt on this sis. For 2009, whr rlvnt, informtion for quity-ount ntitis is provi in th sm lvl of til s for susiiris. Also for 2009, prov rsrvs r s on rvis SEC finitions. For tils on BP s prov rsrvs n proution omplin prosss, s pg 42. Oil n nturl gs xplortion n proution tivitis $ million 2005 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris Cpitliz osts t 31 Dmr Gross pitliz osts Prov proprtis 31,552 4,608 46,288 2,751 6,834 12,183 6,463 1, ,322 Unprov proprtis , ,661 31,828 4,743 47,835 2,928 7,240 12, ,793 2, ,983 Aumult prition 22,302 2,949 22,016 1,658 3,261 6,112 1, ,006 Nt pitliz osts 9,526 1,794 25,819 1,270 3,979 6, ,069 1,608 55,977 Th group s shr of quity-ount ntitis nt pitliz osts t 31 Dmr 2005 ws $10,670 million. Costs inurr for th yr n 31 Dmr Aquisition of proprtis Prov Unprov Explortion n pprisl osts ,266 Dvlopmnt , ,691 1, ,678 Totl osts , , , ,007 Th group s shr of quity-ount ntitis osts inurr in 2005 ws $1,205 million: in Russi $845 million n South $360 million. Rsults of oprtions for th yr n 31 Dmr Sls n othr oprting rvnus Thir prtis 4, , ,173 1,350 1, ,695 Sls twn usinsss 2, ,842 1,242 1,621 2,402 4,538 1,040 29,119 7,125 1,611 16,890 1,329 3,794 3,752 6,115 1,198 41,814 Explortion xpnitur Proution osts 1, , ,391 Proution txs f , ,127 Othr osts (inom) f g 1,857 (55) 2, ,729 Dprition, pltion n mortiztion 1, , ,628 Impirmnts n (gins) losss on sl of usinsss n fix ssts 44 (1,038) 232 (32) (101) 2 (893) 5,048 (721) 7, ,334 1, , ,666 Profit for txtion h 2,077 2,332 9, ,460 2,571 (47) 1, ,148 Allol txs , ,200 1,043 (1) ,950 Rsults of oprtions 1,672 1,452 5, ,260 1,528 (46) 1, ,198 Th group s shr of quity-ount ntitis rsults of oprtions (inluing th group s shr of totl TNK-BP rsults) in 2005 ws profit of $3,029 million ftr uting intrst of $226 million, txtion of $1,250 million n minority intrst of $104 million. sgmnt rplmnt ost profit for intrst n tx Explortion n proution tivitis Susiiris (s ov) 2,077 2,332 9, ,460 2,571 (47) 1, ,148 Equity-ount ntitis , ,029 Mistrm tivitis i 46 (76) 799 (38) 504 (18) (1) (107) 22 1,131 Totl rplmnt ost profit for intrst n tx 2,123 2,256 10, ,271 2,553 2,637 1, ,308 Ths tls ontin informtion rlting to oil n nturl gs xplortion n proution tivitis. Mistrm tivitis rlting to th mngmnt n ownrship of ru oil n nturl gs piplins, prossing n xport trminls n LNG prossing filitis n trnsporttion r xlu. In ition, our mistrm tivitis of mrkting n tring of nturl gs, powr n NGLs in th US, Cn, UK n Europ r xlu. Th most signifint mistrm piplin intrsts inlu th Trns-Alsk Piplin Systm, th Fortis Piplin systm, th Cntrl Ar Trnsmission Systm piplin n th Bku-Tilisi-Cyhn piplin. Mjor LNG tivitis r lot in Trini, Inonsi n Austrli n BP is lso invsting in th LNG usinss in Angol. Th group s shr of quity-ount ntitis tivitis r xlu from th tls n inlu in th footnots, with th xption of th Au Dhi oprtions, whih r inlu in th rsults of oprtions ov. Dommissioning ssts r inlu in pitliz osts t 31 Dmr ut r xlu from osts inurr for th yr. I nlus osts pitliz s rsult of sst xhngs. Inlus xplortion n pprisl rilling xpniturs, whih r pitliz within intngil ssts, n gologil n gophysil xplortion osts, whih r hrg to inom s inurr. Prsnt nt of trnsporttion osts, purhss n sls txs. f Comprtiv figurs hv n rstt to inlu in Proution txs mounts prviously rport within Othr osts (inom) mounting to $1,128 million. g Inlus th vlu of roylty oil sol on hlf of othrs whr roylty is pyl in sh, proprty txs, othr govrnmnt tk, th fir vlu gin on m rivtivs of $1,668 million n $265-million hrg inurr on th nlltion of n intrgroup gs supply ontrt. Th UK rgion inlus $530-million hrg offst y orrsponing gins primrily in th US, rlting to th group slf-insurn progrmm. h Exlus th unwining of th isount on provisions n pyls mounting to $122 million, whih is inlu in finn osts in th group inom sttmnt. i Mistrm tivitis xlu invntory holing gins n losss.

7 Finnil n Oprting Informtion Oil n nturl gs xplortion n proution tivitis ontinu $ million 2006 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris Cpitliz osts t 31 Dmr Gross pitliz osts Prov proprtis 32,528 4,951 44,856 3,001 6,403 15,516 7,877 1, ,102 Unprov proprtis , ,590 32,951 5,067 46,299 3,172 6,611 16, ,188 2, ,692 Aumult prition 22,908 3,175 19,724 1,813 2,805 6,944 2,346 1,071 60,786 Nt pitliz osts 10,043 1,892 26,575 1,359 3,806 9, ,842 1,880 60,906 Th group s shr of quity-ount ntitis nt pitliz osts t 31 Dmr 2006 ws $10,870 million. Costs inurr for th yr n 31 Dmr Aquisition of proprtis Prov Unprov Explortion n pprisl osts ,765 Dvlopmnt , ,356 1, ,109 Totl osts , , , ,028 Th group s shr of quity-ount ntitis osts inurr in 2006 ws $1,688 million: in Russi $1,109 million, South $424 million, Rst of Asi $155 million. Rsults of oprtions for th yr n 31 Dmr Sls n othr oprting rvnus Thir prtis 5, , ,122 1,647 1, ,157 Sls twn usinsss 2,329 1,024 14,572 1,052 2,177 2,875 7,334 1,113 32,476 7,707 1,652 15,953 1,126 4,299 4,522 9,031 1,343 45,633 Explortion xpnitur 20 (1) ,045 Proution osts 1, , ,308 Proution txs f , ,417 Othr osts (inom) f g (867) 90 2, h 32 1, ,110 Dprition, pltion n mortiztion 1, , ,143 Impirmnts n (gins) losss on sl of usinsss n fix ssts (450) (57) (1,880) 42 (31) (99) (2,475) 2, , ,549 1, , ,548 Profit for txtion i 5,588 1,224 9, ,750 2,615 (49) 3, ,085 Allol txs 2, , ,356 1, ,479 Rsults of oprtions 3, , ,394 1,287 (52) 2, ,606 Th group s shr of quity-ount ntitis rsults of oprtions (inluing th group s shr of totl TNK-BP rsults) in 2006 ws profit of $3,302 million ftr uting intrst of $324 million, txtion of $1,804 million n minority intrst of $193 million. sgmnt rplmnt ost profit for intrst n tx Explortion n proution tivitis Susiiris (s ov) 5,588 1,224 9, ,750 2,615 (49) 3, ,085 Equity-ount ntitis , ,302 Mistrm tivitis j (41) (24) (191) 9 1,639 Totl rplmnt ost profit for intrst n tx 6,107 1,367 10, ,829 2,653 2,657 3, ,026 Ths tls ontin informtion rlting to oil n nturl gs xplortion n proution tivitis. Mistrm tivitis rlting to th mngmnt n ownrship of ru oil n nturl gs piplins, prossing n xport trminls n LNG prossing filitis n trnsporttion r xlu. In ition, our mistrm tivitis of mrkting n tring of nturl gs, powr n NGLs in th US, Cn, UK n Europ r xlu. Th most signifint mistrm piplin intrsts inlu th Trns-Alsk Piplin Systm, th Fortis Piplin Systm, th Cntrl Ar Trnsmission Systm piplin n th Bku-Tilisi-Cyhn piplin. Mjor LNG tivitis r lot in Trini, Inonsi n Austrli. Th group s shr of quity-ount ntitis tivitis r xlu from th tls n inlu in th footnots, with th xption of th Au Dhi oprtions, whih r inlu in th rsults of oprtions ov. Dommissioning ssts r inlu in pitliz osts t 31 Dmr ut r xlu from osts inurr for th yr. I nlus osts pitliz s rsult of sst xhngs. Inlus xplortion n pprisl rilling xpniturs, whih r pitliz within intngil ssts, n gologil n gophysil xplortion osts, whih r hrg to inom s inurr. Prsnt nt of trnsporttion osts, purhss n sls txs. f Comprtiv figurs hv n rstt to inlu in Proution txs mounts prviously rport within Othr osts (inom) mounting to $1,563 million. g Inlus th vlu of roylty oil sol on hlf of othrs whr roylty is pyl in sh, proprty txs, othr govrnmnt tk n th fir vlu gin on m rivtivs of $515 million. h Inlus $328 million prviously rport within th Othr rgion. i Exlus th unwining of th isount on provisions n pyls mounting to $153 million, whih is inlu in finn osts in th group inom sttmnt. j Mistrm tivitis xlu invntory holing gins n losss. 37

8 Finnil n Oprting Informtion Oil n nturl gs xplortion n proution tivitis ontinu $ million 2007 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris Cpitliz osts t 31 Dmr Gross pitliz osts Prov proprtis 34,774 4,925 53,079 3,261 7,366 18,333 9,629 1, ,862 Unprov proprtis 606 1, , ,001 5,637 35,380 4,925 54,739 3,443 7,481 19, ,165 2, ,499 Aumult prition 25,515 2,925 25,500 1,968 3,560 8,315 3, ,844 Nt pitliz osts 9,865 2,000 29,239 1,475 3,921 11, ,527 2,073 66,655 Th group s shr of quity-ount ntitis nt pitliz osts t 31 Dmr 2007 ws $11,787 million. Costs inurr for th yr n 31 Dmr Aquisition of proprtis Prov Unprov Explortion n pprisl osts ,892 Dvlopmnt , ,634 1, ,153 Totl osts 1, , , , ,039 Th group s shr of quity-ount ntitis osts inurr in 2007 ws $2,552 million: in Russi $1,787 million, South $569 million n Asi $196 million. Rsults of oprtions for th yr n 31 Dmr Sls n othr oprting rvnus Thir prtis 4, , ,995 2,219 1, ,803 Sls twn usinsss 2, , ,274 3,223 10, ,833 6,763 1,336 15,789 1,015 4,269 5,442 11,525 1,497 47,636 Explortion xpnitur Proution osts 1, , ,530 Proution txs f , , ,733 Othr osts (inom) f g (419) 123 2, h 169 1, ,679 Dprition, pltion n mortiztion 1, , ,372 1, ,288 Impirmnts n (gins) losss on sl of usinsss n fix ssts 112 (534) (413) (38) (5) (76) (954) 3,193 (54) 8, ,658 2, , ,032 Profit for txtion i 3,570 1,390 7, ,611 3,102 (287) 4, ,604 Allol txs 1, , ,167 1, , ,902 Rsults of oprtions 1, , ,444 1,640 (290) 3, ,702 Th group s shr of quity-ount ntitis rsults of oprtions (inluing th group s shr of totl TNK-BP rsults) in 2007 ws profit of $2,704 million ftr uting intrst of $401 million, txtion of $1,355 million n minority intrst of $215 million. sgmnt rplmnt ost profit for intrst n tx Explortion n proution tivitis Susiiris (s ov) 3,570 1,390 7, ,611 3,102 (287) 4, ,604 Equity-ount ntitis 1 (33) 414 2, ,704 Mistrm tivitis j (112) 38 (37) 1,294 Totl rplmnt ost profit for intrst n tx 3,585 1,402 7, ,038 3,198 1,893 4, ,602 Ths tls ontin informtion rlting to oil n nturl gs xplortion n proution tivitis. Mistrm tivitis rlting to th mngmnt n ownrship of ru oil n nturl gs piplins, prossing n xport trminls n LNG prossing filitis n trnsporttion r xlu. In ition, our mistrm tivitis of mrkting n tring of nturl gs, powr n NGLs in th US, Cn, UK n Europ r xlu. Th most signifint mistrm piplin intrsts inlu th Trns-Alsk Piplin Systm, th Fortis Piplin Systm, th Cntrl Ar Trnsmission Systm piplin, th South Cusus Piplin n th Bku-Tilisi-Cyhn piplin. Mjor LNG tivitis r lot in Trini, Inonsi n Austrli. Th group s shr of quityount ntitis tivitis r xlu from th tls n inlu in th footnots, with th xption of th Au Dhi oprtions, whih r inlu in th rsults of oprtions ov. Dommissioning ssts r inlu in pitliz osts t 31 Dmr ut r xlu from osts inurr for th yr. I nlus osts pitliz s rsult of sst xhngs. Inlus xplortion n pprisl rilling xpniturs, whih r pitliz within intngil ssts, n gologil n gophysil xplortion osts, whih r hrg to inom s inurr. Prsnt nt of trnsporttion osts, purhss n sls txs. f Comprtiv figurs hv n rstt to inlu in Proution txs mounts prviously rport within Othr osts (inom) mounting to $1,690million. g Inlus proprty txs, othr govrnmnt tk n th fir vlu gin on m rivtivs of $47 million. Th UK rgion inlus $409-million gin offst y orrsponing hrgs primrily in th US, rlting to th group slf-insurn progrmm. h Inlus $24 million prviously rport within th Othr rgion. i Exlus th unwining of th isount on provisions n pyls mounting to $179 million, whih is inlu in finn osts in th group inom sttmnt. j Mistrm tivitis xlu invntory holing gins n losss. 38

9 Finnil n Oprting Informtion Oil n nturl gs xplortion n proution tivitis ontinu $ million 2008 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris Cpitliz osts t 31 Dmr Gross pitliz osts Prov proprtis 34,614 5,507 59,918 3,517 7,934 21,563 10,689 2, ,323 Unprov proprtis 626 5, , ,018 9,425 35,240 5,507 64,924 3,682 8,068 23,574 11,154 3, ,748 Aumult prition 26,564 3,125 28,511 2,141 4,217 10,451 4, ,349 Nt pitliz osts 8,676 2,382 36,413 1,541 3,851 13,123 6,759 2,654 75,399 Th group s shr of quity-ount ntitis nt pitliz osts t 31 Dmr 2008 ws $13,393 million. Costs inurr for th yr n 31 Dmr Aquisition of proprtis Prov 1, ,512 Unprov 4 2, , , ,499 Explortion n pprisl osts ,290 Dvlopmnt , , ,767 Totl osts 1, , , , ,556 Th group s shr of quity-ount ntitis osts inurr in 2008 ws $3,259 million: in Russi $1,921 million, South $1,039 million n Asi $299 million. Rsults of oprtions for th yr n 31 Dmr Sls n othr oprting rvnus Thir prtis 3, , ,339 3,745 1, ,257 Sls twn usinsss 4,374 1,416 15,610 1,237 2,605 6,022 11,249 1,171 43,684 8,239 1,521 23,620 1,384 5,944 9,767 12,435 2,031 64,941 Explortion xpnitur Proution osts 1, , ,667 Proution txs f 503 2, , ,086 Othr osts (inom) f g (28) (43) 3, (122) h 196 2, ,274 Dprition, pltion n mortiztion 1, , , ,883 Impirmnts n (gins) losss on sl of usinsss n fix ssts , , ,749 3, , ,333 Profit for txtion i 5,237 1,214 11, ,195 6,673 (228) 3,229 1,520 33,608 Allol txs 2, , ,218 2,672 (36) ,576 Rsults of oprtions 2, , ,977 4,001 (192) 2,245 1,007 20,032 Th group s shr of quity-ount ntitis rsults of oprtions (inluing th group s shr of totl TNK-BP rsults) in 2008 ws profit of $2,793 million ftr uting intrst of $355 million, txtion of $1,217 million n minority intrst of $169 million. sgmnt rplmnt ost profit for intrst n tx Explortion n proution tivitis Susiiris (s ov) 5,237 1,214 11, ,195 6,673 (228) 3,229 1,520 33,608 Equity-ount ntitis (1) (1) 2, ,793 Mistrm tivitis j k (272) (129) 1,907 Totl rplmnt ost profit for intrst n tx 5,979 1,230 11,724 1,248 4,773 6,784 2,031 3,148 1,391 38,308 Ths tls ontin informtion rlting to oil n nturl gs xplortion n proution tivitis. Mistrm tivitis rlting to th mngmnt n ownrship of ru oil n nturl gs piplins, prossing n xport trminls n LNG prossing filitis n trnsporttion r xlu. In ition, our mistrm tivitis of mrkting n tring of nturl gs, powr n NGLs in th US, Cn, UK n Europ r xlu. Th most signifint mistrm piplin intrsts inlu th Trns-Alsk Piplin Systm, th Fortis Piplin Systm, th Cntrl Ar Trnsmission Systm piplin, th South Cusus Piplin n th Bku-Tilisi-Cyhn piplin. Mjor LNG tivitis r lot in Trini, Inonsi n Austrli n BP is lso invsting in th LNG usinss in Angol. Th group s shr of quity-ount ntitis tivitis r xlu from th tls n inlu in th footnots, with th xption of th Au Dhi proution txs, whih r inlu in th rsults of oprtions ov. Dommissioning ssts r inlu in pitliz osts t 31 Dmr ut r xlu from osts inurr for th yr. I nlus osts pitliz s rsult of sst xhngs. Inlus xplortion n pprisl rilling xpniturs, whih r pitliz within intngil ssts, n gologil n gophysil xplortion osts, whih r hrg to inom s inurr. Prsnt nt of trnsporttion osts, purhss n sls txs. f Comprtiv figurs hv n rstt to inlu in Proution txs mounts prviously rport within Othr osts (inom) mounting to $2,427 million. g Inlus proprty txs, othr govrnmnt tk n th fir vlu loss on m rivtivs of $102 million. Th UK rgion inlus $499-million gin offst y orrsponing hrgs primrily in th US, rlting to th group slf-insurn progrmm. h Inlus $367 million prviously rport within th Othr rgion. i Exlus th unwining of th isount on provisions n pyls mounting to $285 million, whih is inlu in finn osts in th group inom sttmnt. j Inlus $517-million writ-own of our invstmnt in Rosnft s on its quot mrkt pri t th n of th yr. k Mistrm tivitis xlu invntory holing gins n losss. 39

10 Finnil n Oprting Informtion Oil n nturl gs xplortion n proution tivitis ontinu $ million 2009 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris Cpitliz osts t 31 Dmr Gross pitliz osts Prov proprtis 35,096 6,644 64,366 3,967 8,346 24,476 10,900 2, ,689 Unprov proprtis 752 5, , ,039 10,710 35,848 6,644 69,830 4,114 8,544 26,853 11,633 3, ,399 Aumult prition 26,794 3,306 31,728 2,309 4,837 12,492 4,798 1,038 87,302 Nt pitliz osts 9,054 3,338 38,102 1,805 3,707 14,361 6,835 2,895 80,097 Costs inurr for th yr n 31 Dmr Aquisition of proprtis Prov 179 (17) Unprov (1) Explortion n pprisl osts 183 1, ,805 Dvlopmnt 751 1,054 4, , ,396 Totl osts 1,112 1,054 5, , , ,067 Rsults of oprtions for th yr n 31 Dmr Sls n othr oprting rvnus Thir prtis 2, , ,525 1, ,957 Sls twn usinsss 2, , ,409 5,313 6, ,793 4, , ,934 7,159 6,893 1,511 40,750 Explortion xpnitur ,116 Proution osts 1, , ,261 Proution txs (3) , ,793 Othr osts (inom) f (1,259) 51 2, ,839 Dprition, pltion n mortiztion 1, , , ,951 Impirmnts n (gins) losss on sl of usinsss n fix ssts (122) (7) (208) (11) (1) (702) g (1,051) 1, , ,501 3, , ,909 Profit for txtion h 3, ,937 (97) 1,433 3,848 (99) 2,607 1,073 18,841 Allol txs 1, ,902 (58) 916 1,517 (25) ,580 Rsults of oprtions 2, ,035 (39) 517 2,331 (74) 1,925 1,071 12,261 sgmnt rplmnt ost profit for intrst n tx Explortion n proution tivitis susiiris (s ov) 3, ,937 (97) 1,433 3,848 (99) 2,607 1,073 18,841 Mistrm tivitis susiiris i (27) (37) 518 (315) 2,650 Equity-ount ntitis j , ,309 Totl rplmnt ost profit for intrst n tx 4, , ,080 3,877 1,788 3, ,800 Ths tls ontin informtion rlting to oil n nturl gs xplortion n proution tivitis of susiiris. Mistrm tivitis rlting to th mngmnt n ownrship of ru oil n nturl gs piplins, prossing n xport trminls n LNG prossing filitis n trnsporttion r xlu. In ition, our mistrm tivitis of mrkting n tring of nturl gs, powr n NGLs in th US, Cn, UK n Europ r xlu. Th most signifint mistrm piplin intrsts inlu th Trns-Alsk Piplin Systm, th Fortis Piplin Systm, th Cntrl Ar Trnsmission Systm piplin, th South Cusus Piplin n th Bku-Tilisi-Cyhn piplin. Mjor LNG tivitis r lot in Trini, Inonsi n Austrli n BP is lso invsting in th LNG usinss in Angol. Dommissioning ssts r inlu in pitliz osts t 31 Dmr ut r xlu from osts inurr for th yr. I nlus osts pitliz s rsult of sst xhngs. Inlus xplortion n pprisl rilling xpniturs, whih r pitliz within intngil ssts, n gologil n gophysil xplortion osts, whih r hrg to inom s inurr. Prsnt nt of trnsporttion osts, purhss n sls txs. f Inlus proprty txs, othr govrnmnt tk n th fir vlu gin on m rivtivs of $663 million. Th UK rgion inlus $783-million gin offst y orrsponing hrgs primrily in th US, rlting to th group slf-insurn progrmm. g Inlus th gin on isposl of upstrm ssts ssoit with th sl of our 46% stk in LukAro. h Exlus th unwining of th isount on provisions n pyls mounting to $308 million, whih is inlu in finn osts in th group inom sttmnt. i Mistrm tivitis xlu invntory holing gins n losss. j Th profits of quity-ount ntitis r inlu ftr intrst n tx. 40

11 Finnil n Oprting Informtion Oil n nturl gs xplortion n proution tivitis ontinu $ million 2009 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Equity-ount ntitis (BP shr) Cpitliz osts t 31 Dmr Gross pitliz osts Prov proprtis 5,789 13,266 2,259 21,314 Unprov proprtis 1, ,312 1,378 5,986 14,003 2,259 23,626 Aumult prition 2,084 5,550 1,739 9,373 Nt pitliz osts 1,378 3,902 8, ,253 Costs inurr for th yr n 31 Dmr Aquisition of proprtis Prov Unprov Explortion n pprisl osts Dvlopmnt , ,996 Totl osts , ,138 Rsults of oprtions for th yr n 31 Dmr Sls n othr oprting rvnus Thir prtis 1,977 4, ,247 Sls twn usinsss 2,838 2,838 1,977 7, ,085 Explortion xpnitur Proution osts 354 1, ,941 Proution txs 702 2,597 3,299 Othr osts (inom) (69) 12 (2) (59) Dprition, pltion n mortiztion 281 1, ,628 Impirmnts n (gins) losss on sl of usinsss n fix ssts ,291 5, ,941 Profit for txtion 686 2,538 (80) 3,144 Allol txs Rsults of oprtions 416 2,037 (80) 2,373 sgmnt rplmnt ost profit for intrst n tx Explortion n proution tivitis quity-ount ntitis (s ov) 416 2,037 (80) 2,373 Mistrm n othr tivitis ftr tx f (113) Totl rplmnt ost profit ftr intrst n tx , ,309 Ths tls ontin informtion rlting to oil n nturl gs xplortion n proution tivitis of quity-ount ntitis. Mistrm tivitis rlting to th mngmnt n ownrship of ru oil n nturl gs piplins, prossing n xport trminls n LNG prossing filitis n trnsporttion s wll s ownstrm tivitis of TNK-BP r xlu. Th mounts rport for quity-ount ntitis xlu th orrsponing mounts for thir quity-ount ntitis. Dommissioning ssts r inlu in pitliz osts t 31 Dmr ut r xlu from osts inurr for th yr. I nlus osts pitliz s rsult of sst xhngs. Inlus xplortion n pprisl rilling xpniturs, whih r pitliz within intngil ssts, n gologil n gophysil xplortion osts, whih r hrg to inom s inurr. Prsnt nt of trnsporttion osts, purhss n sls txs. f Inlus intrst, minority intrst n th nt rsults of quity-ount ntitis of quity-ount ntitis. 41

12 Finnil n Oprting Informtion Movmnts in stimt nt prov rsrvs Complin IFRSs o not provi spifi guin on rsrvs islosurs. BP stimts prov rsrvs in orn with SEC Rul 4-10 () of Rgultion S-X n rlvnt Complin n Dislosur Intrprttions (C&DI) n Stff Aounting Bulltins s issu y th SEC stff. On 31 Dmr 2008, th SEC pulish rvision of Rul 4-10 () of Rgultion S-X for th stimtion of rsrvs. Ths rvis ruls form th sis of th 2009 yr-n stimtion of prov rsrvs n th pplition of th thnil spts rsult in n immtril inrs of lss thn 1% to BP s totl prov rsrvs. Th rsons for th inrs r primrily u to th pplition of rlil thnologis n inlusion of prov rsrvs mor thn on sping wy from xisting pntrtions s isuss low. By thir ntur, thr is lwys som risk involv in th ultimt vlopmnt n proution of prov rsrvs, inluing, ut not limit to, finl rgultory pprovl, th instlltion of nw or itionl infrstrutur s wll s hngs in oil n gs pris, hngs in oprting n vlopmnt osts n th ontinu vilility of itionl vlopmnt pitl. All th group s prov rsrvs hl in susiiris n quityount ntitis r stimt y th group s ptrolum nginrs. Our prov rsrvs r ssoit with oth onssions (tx n roylty rrngmnts) n grmnts whr th group is xpos to th upstrm risks n rwrs of ownrship, ut whr titl to th hyrorons is not onfrr, suh s proution-shring grmnts (PSAs). In onssion, th onsortium of whih w r prt is ntitl to th prov rsrvs tht n prou ovr th lin prio, whih my th lif of th fil. In PSA, w r ntitl to rovr volums tht qut to osts inurr to vlop n prou th prov rsrvs n n gr shr of th rmining volums or th onomi quivlnt. As prt of our ntitlmnt is rivn y th montry mount of osts to rovr, pri flututions will hv n impt on oth proution volums n rsrvs. Fourtn prnt of our prov rsrvs r ssoit with PSAs. Th min ountris in whih w oprt unr PSAs r Algri, Angol, Azrijn, Egypt, Inonsi n Vitnm. W islos our shr of prov rsrvs hl in quity-ount ntitis (jointly ontroll ntitis n ssoits), lthough w o not ontrol ths ntitis or th ssts hl y suh ntitis. 42

13 Finnil n Oprting Informtion Movmnts in stimt nt prov rsrvs ru oil million rrls 2005 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris At 1 Jnury 2005 Dvlop , ,473 Unvlop , , , ,755 Chngs ttriutl to Rvisions of prvious stimts (31) (8) 103 (8) (13) (190) (145) 18 (274) Improv rovry Purhss of rsrvs-in-pl 2 2 Disovris n xtnsions Proution (101) (27) (200) (4) (49) (64) (38) (13) (496) Sls of rsrvs-in-pl (15) (1) (39) (55) (89) (29) 161 (11) (98) (169) (176) 16 (395) At 31 Dmr 2005 Dvlop , ,201 Unvlop , , , ,360 Equity-ount ntitis (BP shr) At 1 Jnury 2005 Dvlop 204 1, ,660 Unvlop , ,179 Chngs ttriutl to Rvisions of prvious stimts Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions 2 2 Proution (26) (333) (57) (416) Sls of rsrvs-in-pl (24) (24) 2 (38) At 31 Dmr 2005 f Dvlop 207 1, ,486 Unvlop , ,205 Totl susiiris n quity-ount ntitis (BP shr) At 1 Jnury 2005 Dvlop , , ,133 Unvlop , , , ,157 1, ,934 At 31 Dmr 2005 Dvlop , , ,687 Unvlop , , , ,119 1, ,565 Cru oil inlus NGLs n onnst. Prov rsrvs xlu royltis u to othrs, whthr pyl in sh or in kin, whr th roylty ownr hs irt intrst in th unrlying proution n th option n ility to mk lifting n sls rrngmnts inpnntly. Prov rsrvs in th Pruho By fil in Alsk inlu n stimt 77 million rrls on whih nt profits roylty will pyl ovr th lif of th fil unr th trms of th BP Pruho By Roylty Trust. Exlus NGLs from prossing plnts in whih n intrst is hl of 58 thousn rrls y. Inlus 818 million rrls of NGLs. Also inlus 29 million rrls of ru oil in rspt of th 30% minority intrst in BP Trini n Togo LLC. Volums of quity-ount ntitis inlu volums of quity-ount invstmnts of thos ntitis. f Inlus 33 million rrls of NGLs. Also inlus 95 million rrls of ru oil in rspt of th 4.47% minority intrst in TNK-BP. 43

14 Finnil n Oprting Informtion Movmnts in stimt nt prov rsrvs ru oil ontinu million rrls 2006 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris At 1 Jnury 2006 Dvlop , ,201 Unvlop , , , ,360 Chngs ttriutl to Rvisions of prvious stimts (3) (11) (108) 6 (15) 2 16 (113) Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (92) (23) (178) (3) (36) (64) (63) (12) (471) Sls of rsrvs-in-pl (10) (62) (99) (171) (76) (25) (205) 6 (140) 27 (43) (11) (467) At 31 Dmr 2006 Dvlop , ,041 Unvlop , , , ,893 Equity-ount ntitis (BP shr) At 1 Jnury 2006 Dvlop 207 1, ,486 Unvlop , ,205 Chngs ttriutl to Rvisions of prvious stimts (2) 1,215 (8) 1,205 Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions 1 1 Proution (28) (320) (63) (411) Sls of rsrvs-in-pl (4) (170) (174) (71) 683 At 31 Dmr 2006 f Dvlop 221 2, ,942 Unvlop , ,888 Totl susiiris n quity-ount ntitis (BP shr) At 1 Jnury 2006 Dvlop , , ,687 Unvlop , , , ,119 1, ,565 At 31 Dmr 2006 Dvlop , , ,983 Unvlop , , , ,844 1, ,781 Cru oil inlus NGLs n onnst. Prov rsrvs xlu royltis u to othrs, whthr pyl in sh or in kin, whr th roylty ownr hs irt intrst in th unrlying proution n th option n ility to mk lifting n sls rrngmnts inpnntly. Prov rsrvs in th Pruho By fil in Alsk inlu n stimt 77 million rrls on whih nt profits roylty will pyl ovr th lif of th fil unr th trms of th BP Pruho By Roylty Trust. Exlus NGLs from prossing plnts in whih n intrst is hl of 55 thousn rrls y. Inlus 779 million rrls of NGLs. Also inlus 23 million rrls of ru oil in rspt of th 30% minority intrst in BP Trini n Togo LLC. Volums of quity-ount ntitis inlu volums of quity-ount invstmnts of thos ntitis. f Inlus 28 million rrls of NGLs. Also inlus 179 million rrls of ru oil in rspt of th 6.29% minority intrst in TNK-BP. 44

15 Finnil n Oprting Informtion Movmnts in stimt nt prov rsrvs ru oil ontinu million rrls 2007 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris At 1 Jnury 2007 Dvlop , ,041 Unvlop , , , ,893 Chngs ttriutl to Rvisions of prvious stimts (1) (25) 18 (29) (133) (29) (5) (204) Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (73) (19) (169) (3) (24) (71) (83) (12) (454) Sls of rsrvs-in-pl (94) (94) (67) (12) (61) (3) (46) (99) (98) (15) (401) At 31 Dmr 2007 Dvlop , ,937 Unvlop , , , ,492 Equity-ount ntitis (BP shr) f At 1 Jnury 2007 Dvlop 221 2, ,942 Unvlop , ,888 Chngs ttriutl to Rvisions of prvious stimts Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (28) (304) (73) (405) Sls of rsrvs-in-pl (21) (21) At 31 Dmr 2007 g Dvlop 328 2, ,996 Unvlop 243 1, , , ,581 Totl susiiris n quity-ount ntitis (BP shr) At 1 Jnury 2007 Dvlop , , ,983 Unvlop , , , ,844 1, ,781 At 31 Dmr 2007 Dvlop , , ,933 Unvlop , , , , ,231 1, ,073 Cru oil inlus NGLs n onnst. Prov rsrvs xlu royltis u to othrs, whthr pyl in sh or in kin, whr th roylty ownr hs irt intrst in th unrlying proution n th option n ility to mk lifting n sls rrngmnts inpnntly. Prov rsrvs in th Pruho By fil in Alsk inlu n stimt 98 million rrls on whih nt profits roylty will pyl ovr th lif of th fil unr th trms of th BP Pruho By Roylty Trust. Exlus NGLs from prossing plnts in whih n intrst is hl of 54 thousn rrls y. Inlus 739 million rrls of NGLs. Also inlus 20 million rrls of ru oil in rspt of th 30% minority intrst in BP Trini n Togo LLC. Th BP group hols intrsts, through ssoits, in onshor n offshor onssions in Au Dhi, xpiring in 2014 n 2018 rsptivly. During th son qurtr of 2007, w upt our rporting poliy in Au Dhi to onsistnt with gnrl inustry prti n s rsult hv strt rporting proution n rsrvs thr gross of proution txs. This hng rsult in n inrs in our rsrvs of 153 million rrls n in our proution of 33m/. f Volums of quity-ount ntitis inlu volums of quity-ount invstmnts of thos ntitis. g Inlus 26 million rrls of NGLs. Also inlus 210 million rrls of ru oil in rspt of th 6.51% minority intrst in TNK-BP. 45

16 Finnil n Oprting Informtion Movmnts in stimt nt prov rsrvs ru oil ontinu million rrls 2008 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris At 1 Jnury 2008 Dvlop , ,937 Unvlop , , , ,492 Chngs ttriutl to Rvisions of prvious stimts 16 (11) (212) Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (63) (16) (191) (3) (23) (101) (47) (11) (455) Sls of rsrvs-in-pl (199) (199) (8) 1 (157) (2) (202) (3) 173 At 31 Dmr 2008 Dvlop , ,981 Unvlop , , , ,665 Equity-ount ntitis (BP shr) At 1 Jnury 2008 Dvlop 328 2, ,996 Unvlop 243 1, , , ,581 Chngs ttriutl to Rvisions of prvious stimts (3) (1) 224 Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (34) (302) (80) (416) Sls of rsrvs-in-pl (1) (1) (60) (81) 107 At 31 Dmr 2008 f Dvlop 399 2, ,125 Unvlop , , ,688 Totl susiiris n quity-ount ntitis (BP shr) At 1 Jnury 2008 Dvlop , , ,933 Unvlop , , , , ,231 1, ,073 At 31 Dmr 2008 Dvlop , , ,106 Unvlop , , , ,171 1, ,353 Cru oil inlus NGLs n onnst. Prov rsrvs xlu royltis u to othrs, whthr pyl in sh or in kin, whr th roylty ownr hs irt intrst in th unrlying proution n th option n ility to mk lifting n sls rrngmnts inpnntly. Prov rsrvs in th Pruho By fil in Alsk inlu n stimt 54 million rrls on whih nt profits roylty will pyl ovr th lif of th fil unr th trms of th BP Pruho By Roylty Trust. Exlus NGLs from prossing plnts in whih n intrst is hl of 19 thousn rrls y. Inlus 807 million rrls of NGLs. Also inlus 21 million rrls of ru oil in rspt of th 30% minority intrst in BP Trini n Togo LLC. Volums of quity-ount ntitis inlu volums of quity-ount invstmnts of thos ntitis. f Inlus 36 million rrls of NGLs. Also inlus 216 million rrls of ru oil in rspt of th 6.80% minority intrst in TNK-BP. 46

17 Finnil n Oprting Informtion Movmnts in stimt nt prov rsrvs ru oil ontinu million rrls 2009 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris At 1 Jnury 2009 Dvlop , ,981 Unvlop , , , ,665 Chngs ttriutl to Rvisions of prvious stimts 7 (1) (121) (128) 3 (55) Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (61) (14) (237) (2) (22) (109) (45) (11) (501) Sls of rsrvs-in-pl (8) (26) (34) 165 (8) 83 3 (84) (167) 1 (7) At 31 Dmr 2009 Dvlop , ,070 Unvlop , , , ,658 Equity-ount ntitis (BP shr) At 1 Jnury 2009 Dvlop 399 2, ,125 Unvlop , , ,688 Chngs ttriutl to Rvisions of prvious stimts 2 (2) 590 (28) 562 Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (37) (307) (71) (415) Sls of rsrvs-in-pl (14) (116) (130) 4 (2) 378 (215) 165 At 31 Dmr 2009 f Dvlop 407 2, ,121 Unvlop , , , ,853 Totl susiiris n quity-ount ntitis (BP shr) At 1 Jnury 2009 Dvlop , , ,106 Unvlop , , , ,171 1, ,353 At 31 Dmr 2009 Dvlop , , ,191 Unvlop , , , , , ,511 Cru oil inlus NGLs n onnst. Prov rsrvs xlu royltis u to othrs, whthr pyl in sh or in kin, whr th roylty ownr hs irt intrst in th unrlying proution n th option n ility to mk lifting n sls rrngmnts inpnntly. Prov rsrvs in th Pruho By fil in Alsk inlu n stimt 68 million rrls on whih nt profits roylty will pyl ovr th lif of th fil unr th trms of th BP Pruho By Roylty Trust. Exlus NGLs from prossing plnts in whih n intrst is hl of 26 thousn rrls y. Inlus 819 million rrls of NGLs. Also inlus 23 million rrls of ru oil in rspt of th 30% minority intrst in BP Trini n Togo LLC. Volums of quity-ount ntitis inlu volums of quity-ount invstmnts of thos ntitis. f Inlus 20 million rrls of NGLs. Also inlus 243 million rrls of ru oil in rspt of th 6.86% minority intrst in TNK-BP. 47

18 Finnil n Oprting Informtion Movmnts in stimt nt prov rsrvs nturl gs 5.8 illion ui ft of nturl gs = 1 million rrls of oil quivlnt. 48 illion ui ft 2005 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris At 1 Jnury 2005 Dvlop 2, , ,227 1, ,579 Unvlop 1,183 1,254 3, ,605 1,886 2,130 4,685 25,071 3,681 1,502 14, ,832 2,901 3,125 5,596 45,650 Chngs ttriutl to Rvisions of prvious stimts (102) (110) (186) Improv rovry , ,000 Purhss of rsrvs-in-pl Disovris n xtnsions Proution (425) (44) (1,018) (118) (770) (163) (226) (134) (2,898) Sls of rsrvs-in-pl (1,182) (14) (4) (226) (1,426) (395) (1,177) 1,301 (138) (562) 33 (402) 138 (1,202) At 31 Dmr 2005 Dvlop 2, , , ,045 Unvlop , ,410 2,000 1,885 4,832 24,403 3, , ,270 2,934 2,723 5,734 44,448 Equity-ount ntitis (BP shr) At 1 Jnury 2005 Dvlop 1, ,778 Unvlop ,079 2, ,857 Chngs ttriutl to Rvisions of prvious stimts 26 1, ,384 Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (154) (184) (22) (360) Sls of rsrvs-in-pl (119) (119) (34) 1,034 (1) 999 At 31 Dmr 2005 Dvlop 1,492 1, ,761 Unvlop ,095 2,340 1, ,856 Totl susiiris n quity-ount ntitis (BP shr) At 1 Jnury 2005 Dvlop 2, , ,624 1, , ,357 Unvlop 1,183 1,254 3, ,582 1, ,222 4,685 26,150 3,681 1,502 14, ,206 2, ,384 5,596 48,507 At 31 Dmr 2005 Dvlop 2, , , ,089 1, ,806 Unvlop , ,258 2, ,963 4,832 25,498 3, , ,610 2,934 1,258 2,981 5,734 48,304 Prov rsrvs xlu royltis u to othrs, whthr pyl in sh or in kin, whr th roylty ownr hs irt intrst in th unrlying proution n th option n ility to mk lifting n sls rrngmnts inpnntly. Inlus 174 illion ui ft of nturl gs onsum in oprtions, 147 illion ui ft in susiiris n 27 illion ui ft in quity-ount ntitis. I nlus 3,812 illion ui ft of nturl gs in rspt of th 30% minority intrst in BP Trini n Togo LLC. Volums of quity-ount ntitis inlu volums of quity-ount invstmnts of thos ntitis. Inlus 57 illion ui ft of nturl gs in rspt of th 4.47% minority intrst in TNK-BP. Yr-n stimt nt prov rsrvs ru oil n nturl gs million rrls oil quivlnt 2005 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Totl vlop n unvlop oil n nturl gs rsrvs Susiiris 1, , ,778 1,184 1,103 1,132 14,024 Equity-ount ntitis (BP shr) 734 2, ,869 1, , ,512 1,184 2,336 1,902 1,132 17,893

19 Finnil n Oprting Informtion Movmnts in stimt nt prov rsrvs nturl gs ontinu illion ui ft 2006 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris At 1 Jnury 2006 Dvlop 2, , , ,045 Unvlop , ,410 2,000 1,885 4,832 24,403 3, , ,270 2,934 2,723 5,734 44,448 Chngs ttriutl to Rvisions of prvious stimts (343) 11 (922) (77) (214) (69) 4 (63) (1,673) Improv rovry 144 1, ,329 Purhss of rsrvs-in-pl Disovris n xtnsions Proution (370) (38) (941) (108) (874) (169) (220) (135) (2,855) Sls of rsrvs-in-pl (25) (292) (9) (326) (493) (27) (284) 143 (1,081) (227) (134) (177) (2,280) At 31 Dmr 2006 Dvlop 1, , ,305 1, ,302 Unvlop , ,884 1,675 1,781 4,675 22,866 2, , ,189 2,707 2,589 5,557 42,168 Equity-ount ntitis (BP shr) At 1 Jnury 2006 Dvlop 1,492 1, ,761 Unvlop ,095 2,340 1, ,856 Chngs ttriutl to Rvisions of prvious stimts Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (171) (204) (22) (397) Sls of rsrvs-in-pl (77) (77) (145) (93) At 31 Dmr 2006 Dvlop 1,460 1, ,769 Unvlop ,195 1, ,763 Totl susiiris n quity-ount ntitis (BP shr) At 1 Jnury 2006 Dvlop 2, , , ,089 1, ,806 Unvlop , ,258 2, ,963 4,832 25,498 3, , ,610 2,934 1,258 2,981 5,734 48,304 At 31 Dmr 2006 Dvlop 1, , ,765 1,032 1,087 1, ,071 Unvlop , ,619 1, ,856 4,675 23,860 2, , ,384 2,707 1,271 2,886 5,557 45,931 Prov rsrvs xlu royltis u to othrs, whthr pyl in sh or in kin, whr th roylty ownr hs irt intrst in th unrlying proution n th option n ility to mk lifting n sls rrngmnts inpnntly. Inlus 178 illion ui ft of nturl gs onsum in oprtions, 147 illion ui ft in susiiris, 31 illion ui ft in quity-ount ntitis n xlus 8.3 illion ui ft of prou non-hyroron omponnts whih mt rgultory rquirmnts for sls. I nlus 3,537 illion ui ft of nturl gs in rspt of th 30% minority intrst in BP Trini n Togo LLC. Volums of quity-ount ntitis inlu volums of quity-ount invstmnts of thos ntitis. Inlus 99 illion ui ft of nturl gs in rspt of th 7.77% minority intrst in TNK-BP. Yr-n stimt nt prov rsrvs ru oil n nturl gs ontinu million rrls oil quivlnt 2006 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Totl vlop n unvlop oil n nturl gs rsrvs Susiiris 1, , ,452 1,172 1,037 1,089 13,164 Equity-ount ntitis (BP shr) 738 3, ,536 1, , ,190 1,172 3,063 1,772 1,089 17, illion ui ft of nturl gs = 1 million rrls of oil quivlnt. 49

20 Finnil n Oprting Informtion Movmnts in stimt nt prov rsrvs nturl gs ontinu 5.8 illion ui ft of nturl gs = 1 million rrls of oil quivlnt. 50 illion ui ft 2007 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Susiiris At 1 Jnury 2007 Dvlop 1, , ,305 1, ,302 Unvlop , ,884 1,675 1,781 4,675 22,866 2, , ,189 2,707 2,589 5,557 42,168 Chngs ttriutl to Rvisions of prvious stimts 93 (37) 744 (72) (204) (146) (21) Improv rovry Purhss of rsrvs-in-pl Disovris n xtnsions Proution (299) (14) (879) (98) (949) (187) (238) (137) (2,801) Sls of rsrvs-in-pl (68) (32) (7) (107) (191) (1,141) (307) (50) 107 (1,038) At 31 Dmr 2007 Dvlop 2, , , ,270 1,135 19,860 Unvlop , ,973 1,410 1,269 4,529 21,270 2, ,375 1,029 11,048 2,400 2,539 5,664 41,130 Equity-ount ntitis (BP shr) At 1 Jnury 2007 Dvlop 1,460 1, ,769 Unvlop ,195 1, ,763 Chngs ttriutl to Rvisions of prvious stimts Improv rovry Purhss of rsrvs-in-pl 8 8 Disovris n xtnsions Proution (176) (179) (22) (377) Sls of rsrvs-in-pl 114 (110) 3 7 At 31 Dmr 2007 Dvlop 1, ,473 Unvlop ,297 2,309 1, ,770 Totl susiiris n quity-ount ntitis (BP shr) At 1 Jnury 2007 Dvlop 1, , ,765 1,032 1,087 1, ,071 Unvlop , ,619 1, ,856 4,675 23,860 2, , ,384 2,707 1,271 2,886 5,557 45,931 At 31 Dmr 2007 Dvlop 2, , , ,457 1,135 22,333 Unvlop , ,804 1, ,382 4,529 22,567 2, ,375 1,029 13,357 2,400 1,161 2,839 5,664 44,900 Prov rsrvs xlu royltis u to othrs, whthr pyl in sh or in kin, whr th roylty ownr hs irt intrst in th unrlying proution n th option n ility to mk lifting n sls rrngmnts inpnntly. Inlus 202 illion ui ft of nturl gs onsum in oprtions, 161 illion ui ft in susiiris, 41 illion ui ft in quity-ount ntitis n xlus 10.9 illion ui ft of prou non-hyroron omponnts tht mt rgultory rquirmnts for sls. I nlus 3,211 illion ui ft of nturl gs in rspt of th 30% minority intrst in BP Trini n Togo LLC. Volums of quity-ount ntitis inlu volums of quity-ount invstmnts of thos ntitis. Inlus 68 illion ui ft of nturl gs in rspt of th 5.88% minority intrst in TNK-BP. Yr-n stimt nt prov rsrvs ru oil n nturl gs ontinu million rrls oil quivlnt 2007 Europ North South Afri Asi Austrlsi Totl UK Europ US Russi Asi Totl vlop n unvlop oil n nturl gs rsrvs Susiiris , ,209 1, ,093 12,583 Equity-ount ntitis (BP shr) 969 3, , , ,178 1,020 3,431 1,761 1,093 17,814