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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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Commercial reserves and contingent resources summary (unaudited) working interest basis
Year ended 31 December 2010
| Africa | Europe | South Asia | Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oil mmbbl | Gas bcf | Oil mmbbl | Gas bcf | Oil mmbbl | Gas bcf | Oil mmbbl | Gas bcf | Petroleum mmboe | ||||
|
||||||||||||
| Commercial reserves | ||||||||||||
| 1 Jan 2010 | 255.6 | 23.4 | 1.2 | 139.0 | – | 99.0 | 256.8 | 261.4 | 300.4 | |||
| Revisions | 2.9 | – | 0.4 | 38.9 | 0.3 | 16.8 | 3.6 | 55.7 | 12.9 | |||
| Acquisitions | 0.3 | – | – | – | – | – | 0.3 | – | 0.3 | |||
| Additions | 1.1 | – | – | – | – | 4.8 | 1.1 | 4.8 | 1.9 | |||
| Production | (14.0) | (1.3) | (0.2) | (27.6) | – | (12.5) | (14.2) | (41.4) | (21.1) | |||
| 31 December 2010 | 245.9 | 22.1 | 1.4 | 150.3 | 0.3 | 108.1 | 247.6 | 280.5 | 294.4 | |||
| Contingent resources | ||||||||||||
| 1 Jan 2010 | 385.2 | 1,117.6 | – | 114.9 | – | 16.2 | 385.2 | 1,248.7 | 593.3 | |||
| Revisions | 0.9 | 7.2 | – | (20.9) | – | (4.2) | 0.9 | (17.9) | (2.1) | |||
| Acquisitions | 300.8 | 11.6 | – | – | – | – | 300.8 | 11.6 | 302.8 | |||
| Additions | 219.5 | 301.9 | – | – | – | – | 219.5 | 301.9 | 269.9 | |||
| Disposals | (13.2) | (338.5) | – | (7.1) | – | – | (13.2) | (345.6) | (70.8) | |||
| 31 December 2010 | 893.2 | 1,099.8 | – | 86.9 | – | 12.0 | 893.2 | 1,198.7 | 1,093.1 | |||
| Total | ||||||||||||
| 31 December 2010 | 1,139.1 | 1,121.9 | 1.4 | 237.2 | 0.3 | 120.1 | 1,140.8 | 1,479.2 | 1,387.5 | |||
The Group provides for depletion and amortisation of tangible fixed assets on a net entitlements basis, which reflects the terms of the Production Sharing Contracts related to each field. Total net entitlement reserves were 231.6 mmboe at 31 December 2010 (31 December 2009: 265.4 mmboe).
Contingent Resources relate to resources in respect of which development plans are in the course of preparation or further evaluation is underway with a view to development within the foreseeable future.
