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Glossary
A
B
- bll
-
Barrel
- bcf
-
Billion cubic feet
- boe
-
Barrels of oil equivalent
- boepd
-
Barrels of oil equivalent per day
- bopd
-
Barrels of oil per day
C
- CMS
-
Caister Murdoch System
- CMS III
-
A group development of five satellite fields linked to CMS
- CR
-
Corporate Responsibility
- CSO
-
Civil Society Organisation
- CNOOC
-
China National Offshore Oil Corporation
D
- DLT
-
Development Leadership Team
- DoA
-
Delegation of Authority
- DRC
-
Democratic Republic of Congo
- DSBP
-
Deferred Share Bonus Plan
E
- EA
-
Exploration Area
- E&E
-
Exploration and evaluation
- E&A
-
Exploration and Appraisal
- E&P
-
Exploration and Production
- EBITDA
-
Earnings Before Interest, Tax, Depreciation and Amortisation
- EHS
-
Environment, Health and Safety
- EMS
-
Environmental Management System
- ERC
-
Energy Resource Consultants
- ESOS
-
Executive Share Option Scheme
F
- FEED
-
Front End Engineering and Design
- FPSO
-
Floating Production Storage and Offloading vessel
- FRC
-
Financial Reporting Council
- FRS
-
Financial Reporting Standard
- FTG
-
Full Tensor Gravity Gradiometry
- FTSE 100
-
Equity index whose constituents are the 100 largest UK listed companies by market capitalisation
- FVTPL
-
Fair Value Through Profit or Loss
G
- GELT
-
Global Exploration Leadership Team
- GNPC
-
Ghana National Petroleum Corporation
- GoU
-
Government of Uganda
- Group
-
Company and its subsidiary undertakings
H
I
- IAS
-
International Accounting Standard
- IASB
-
International Accounting Standards Board
- IFRIC
-
International Financial Reporting Interpretations Committee
- IFRS
-
International Financial Reporting Standards
- IMS
-
Information Management System
- ISO
-
International Organization for Standardization
K
L
- LIBOR
-
London Interbank Offered Rate
- LTI
-
Lost Time Incident
- LTIFR
-
LTI Frequency Rate measured in LTIs per million hours worked
M
- mmbbl
-
Million barrels
- mmbo
-
Million barrels of oil
- mmboe
-
Million barrels of oil equivalent
- mmscfd
-
Million standard cubic feet per day
- MoU
-
Memorandum of Understanding
- MTM
-
Mark To Market
N
- NGO
-
Non-Governmental Organisation
O
- OR&A
-
Operational Readiness and Assurance
P
- p
-
pence
- P10
-
Reserves and/or resources estimates that have a 10 per cent probability of being met or exceeded
- P50
-
Reserves and/or resources estimates that have a 50 per cent probability of being met or exceeded
- P&D
-
Production and Development
- PAYE
-
Pay As You Earn
- PRT
-
Petroleum Revenue Tax
- PSC
-
Production Sharing Contract
- PSP
-
Performance Share Plan
S
- SCT
-
Supplementary Corporation Tax
- SIP
-
Share Incentive Plan
- SMC
-
Senior Management Committee
- SPA
-
Sale and Purchase Agreement
- sq km
-
Square kilometres
- SRI
-
Socially Responsible Investment
T
U
- UK GAAP
-
UK Generally Accepted Accounting Principles
V
- VAT
-
Value Added Tax
W
-
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Financial statements
Group balance sheet
As at 31 December 2010
| Notes | 2010 $m |
2009 $m |
2008 $m |
|
|---|---|---|---|---|
| ASSETS | ||||
| Non-current assets | ||||
| Intangible exploration and evaluation assets | Note 9 | 4,001.2 | 2,121.6 | 2,052.8 |
| Property, plant and equipment | Note 10 | 2,974.4 | 2,199.8 | 1,428.2 |
| Investments | Note 11 | 1.0 | 1.0 | 0.6 |
| Deferred tax assets | Note 20 | 110.7 | 50.4 | – |
| Derivative financial instruments | Note 18 | – | – | 42.4 |
| 7,087.3 | 4,372.8 | 3,524.0 | ||
| Current assets | ||||
| Inventories | Note 13 | 138.2 | 109.6 | 54.8 |
| Trade receivables | Note 12 | 158.9 | 92.4 | 100.4 |
| Other current assets | Note 14 | 655.3 | 296.0 | 87.2 |
| Cash and cash equivalents | Note 15 | 338.3 | 252.2 | 450.3 |
| Derivative financial instruments | Note 18 | – | 2.3 | 28.9 |
| 1,290.7 | 752.5 | 721.6 | ||
| Total assets | 8,378.0 | 5,125.3 | 4,245.6 | |
| LIABILITIES | ||||
| Current liabilities | ||||
| Trade and other payables | Note 16 | (1,008.2) | (557.1) | (478.1) |
| Other financial liabilities | Note 17 | (309.8) | – | (304.8) |
| Current tax liabilities | (120.0) | (73.8) | (154.1) | |
| Derivative financial instruments | Note 18 | (47.1) | – | – |
| (1,485.1) | (630.9) | (937.0) | ||
| Non-current liabilities | ||||
| Trade and other payables | Note 16 | (354.0) | (31.8) | (8.8) |
| Other financial liabilities | Note 17 | (1,890.0) | (1,314.6) | (708.1) |
| Deferred tax liabilities | Note 20 | (466.1) | (473.5) | (503.8) |
| Provisions | Note 20 | (278.6) | (223.5) | (194.0) |
| Derivative financial instruments | Note 18 | (35.3) | (20.0) | – |
| (3,024.0) | (2,063.4) | (1,414.7) | ||
| Total liabilities | (4,509.1) | (2,694.3) | (2,351.7) | |
| Net assets | 3,868.9 | 2,431.0 | 1,893.9 | |
| EQUITY | ||||
| Called up share capital | Note 21 | 143.5 | 130.1 | 119.7 |
| Share premium | Note 21 | 251.5 | 242.3 | 231.1 |
| Other reserves | Note 22 | 574.2 | 614.5 | 607.8 |
| Retained earnings | 2,839.1 | 1,402.0 | 898.6 | |
| Equity attributable to equity holders of the parent | 3,808.3 | 2,388.9 | 1,857.2 | |
| Non-controlling interest | Note 23 | 60.6 | 42.1 | 36.7 |
| Total equity | 3,868.9 | 2,431.0 | 1,893.9 |
Approved by the Board and authorised for issue on 8 March 2011
Aidan Heavey
Chief Executive Officer
Ian Springett,
Chief Financial Officer
