Supplementary Information on the Oil & Gas Segment


The following tables provide supplemental information on the Exploration & Production business sector of the Oil & Gas segment. In the absence of detailed disclosure rules in this area under IFRS, the Group has elected to voluntarily disclose the following information, which would have been required under SFAS No. 69 (Disclosure of Oil and Gas Producing Activities) and by the Securities and Exchange Commission. In order to present economically meaningful reporting of the cooperation with Gazprom in the Yuzhno Russkoye and Achimgaz projects, several modifications have been made to SFAS 69. BASF has an interest of 35% in the economic rewards of the Yuzhno Russkoye field through Severneftegazprom (SNG), the company which holds the production license. SNG is accounted for using the equity method. A project company, which is fully consolidated, was established for these operations. For the Achimgaz project, in which BASF has an interest of 50%, full field development was begun after the successful completion of the pilot phase in 2011.

In the following overviews, BASF’s stake in both projects is included under “Russia.” In addition, the values for SNG, which is accounted for using the equity method, are presented separately.

All fully consolidated subsidiaries are included with 100%. If other investors have a stake in these companies, their share is presented separately. This relates to a stake in a German Wintershall subsidiary which was part of the asset swap with Gazprom in 2007. This company holds the production and exploration rights to the Libyan onshore concessions 96 and 97.

The following table provides an overview of the most important differences between the information given for the Exploration & Production business sector in the Consolidated Financial Statement of the BASF Group and the supplemental information for the Oil & Gas segment.

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BASF reporting

Supplementary infor-
mation on Oil & Gas

Other activities in Exploration & Production
(e.g., trading business and joint venture services)


not included

Activities accounted for using the equity method (Severneftegazprom and Wolgodeminoil)

earnings from the equity method included in financial result


Corporate overhead costs and financing costs


not included

The regions include the following countries with operating activities:

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Exploration & Production


Russia/Caspian Sea region



Rest of Europe

United Kingdom, the Netherlands, Norway


North Africa/ Middle East


Abu Dhabi, Qatar, Mauritania

South America



Statistical information on the concession areas or the number of wells is not given due to its limited informative value.