Oil and gas reserves

Proven oil and gas reserves are the estimated volumes of crude oil, natural gas and condensate that are shown by geological and engineering data with reasonable certainty to be recoverable in future years from known reserves under existing economic and operating conditions. Accordingly, reserve estimates could be materially different from the quantities of oil and natural gas that are ultimately recovered. To reduce uncertainties, Wintershall uses independent, internationally recognized reserve auditors to perform recurring reserves audits of its major oil and gas fields.

The following tables show the estimated net quantities as of December 31, 2011 and 2012, of the Company’s proven oil and gas reserves and proven developed oil and gas reserves as well as changes in estimated proven reserves as a result of production and other factors.

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Oil 2012

 

Germany

Rest of Europe

Russia, Caspian Sea region

North Africa, Middle East

South America

Total

Proven developed and undeveloped oil reserves as of January 1, millions of barrels (MMbbl)

61

10

40

258

24

393

Revisions and other changes

3

15

5

(1)

22

Extensions and discoveries

9

1

10

Purchase/sale of reserves

Production

7

1

4

34

3

49

Proven reserves as of December 31

57

18

52

229

20

376

Minority interests

105

105

Proven reserves after minority interests

57

18

52

124

20

271

Thereof at-equity companies

12

12

Proven reserves after minority interests and at-equity companies

57

18

40

124

20

259

Minority interests in production

16

16

Proven developed reserves as of December 31

47

3

31

209

13

303

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Gas 2012

 

Germany

Rest of Europe

Russia, Caspian Sea region

North Africa, Middle East

South America

Total

1

The natural gas volumes can be converted with the factor 6 BSCF per MMBOE (million barrels of oil equivalent).

Proven developed and undeveloped gas reserves as of January 1, billion standard cubic feet (BSCF) 1

225

110

3,761

190

1,097

5,383

Revisions and other changes

8

41

350

(1)

147

545

Extensions and discoveries

23

13

36

Purchase/sale of reserves

Production

28

45

330

21

142

566

Proven reserves as of December 31

205

129

3,794

168

1,102

5,398

Minority interests

82

82

Proven reserves after minority interests

205

129

3,794

86

1,102

5,316

Thereof at-equity companies

3,215

3,215

Proven reserves after minority interests and at-equity companies

205

129

579

86

1,102

2,101

Minority interests in production

11

11

Proven developed reserves as of December 31

177

87

3,492

133

737

4,626

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Oil 2011

 

Germany

Rest of Europe

Russia, Caspian Sea region

North Africa, Middle East

South America

Total

Proven developed and undeveloped oil reserves as of January 1, millions of barrels (MMbbl)

54

4

9

268

27

362

Revisions and other changes

14

3

17

Extensions and discoveries

5

5

Purchase/sale of reserves

32

32

Production

7

2

1

10

3

23

Proven reserves as of December 31

61

10

40

258

24

393

Minority interests

118

118

Proven reserves after minority interests

61

10

40

140

24

275

Thereof at-equity companies

8

8

Proven reserves after minority interests and at-equity companies

61

10

32

140

24

267

Minority interests in production

5

5

Proven developed reserves as of December 31

43

3

21

237

19

323

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Gas 2011

 

Germany

Rest of Europe

Russia, Caspian Sea region

North Africa, Middle East

South America

Total

1

The natural gas volumes can be converted with the factor 6 BSCF per MMBOE (million barrels of oil equivalent).

Proven developed and undeveloped gas reserves as of January 1, billion standard cubic feet (BSCF) 1

249

101

3,645

195

1,210

5,400

Revisions and other changes

7

26

2

30

65

Extensions and discoveries

20

20

Purchase/sale of reserves

428

428

Production

31

37

314

5

143

530

Proven reserves as of December 31

225

110

3,761

190

1,097

5,383

Minority interests

93

93

Proven reserves after minority interests

225

110

3,761

97

1,097

5,290

Thereof at-equity companies

3,335

3,335

Proven reserves after minority interests and at-equity companies

225

110

426

97

1,097

1,955

Minority interests in production

3

3

Proven developed reserves as of December 31

199

100

3,501

153

895

4,848