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 tables on the following pages show the estimated net quantities as of December 31, 2012 and 2013, 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.

The currency exchange factor for natural gas in barrel of oil equivalent has been adjusted in 2013 in order to better reflect the recomposition of natural gas qualities in the portfolio. It is now 5.6 billion standard cubic feet (BSCF) per million barrels of oil equivalent (MMBOE), instead of 6.0 BSCF per MMBOE.

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Oil 2013

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total

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

57

18

52

124

20

271

Revisions and other changes

7

1

44

4

(7)

49

Extensions and discoveries

1

1

Purchase/sale of reserves

28

28

Production

7

4

8

11

2

32

Proven reserves as of December 31

57

43

89

117

11

317

Thereof equity-accounted companies

9

103

112

Proven reserves excluding equity-accounted companies

57

43

80

14

11

205

Proven developed reserves as of December 31

45

29

56

96

8

234

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Gas 2013

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total

1

The conversion factor for natural gas is 5.6 BSCF per MMBOE (million barrels of oil equivalent).

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

205

129

3,794

86

1,102

5,316

Revisions and other changes

27

43

1,328

(13)

41

1,426

Extensions and discoveries

Purchase/sale of reserves

211

211

Production

24

49

349

5

134

561

Proven reserves as of December 31

208

334

4,773

68

1,009

6,392

Thereof equity-accounted companies

3,637

68

3,705

Proven reserves excluding equity-accounted companies

208

334

1,136

1,009

2,687

Proven developed reserves as of December 31

168

302

4,264

56

597

5,387

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Oil 2012

 

Germany

Rest of Europe

Russia

North Africa, Middle East1

South America

Total

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

61

10

40

140

24

275

Revisions and other changes

3

15

3

(1)

20

Extensions and discoveries

9

1

10

Purchase/sale of reserves

Production

7

1

4

19

3

34

Proven reserves as of December 31

57

18

52

124

20

271

Thereof equity-accounted companies

12

109

121

Proven reserves excluding equity-accounted companies

57

18

40

15

20

150

Proven developed reserves as of December 31

47

3

31

113

13

207

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Gas 2012

 

Germany

Rest of Europe

Russia

North Africa, Middle East1

South America

Total

1

Restated as a result of amended IFRS

2

The conversion factor for natural gas is 5.6 BSCF per MMBOE (million barrels of oil equivalent); previously, this was 6 BSCF per MMBOE.

Proven developed and undeveloped gas reserves as of January 1, billion standard cubic feet (BSCF)2

225

110

3,761

97

1,097

5,290

Revisions and other changes

8

41

350

(1)

147

545

Extensions and discoveries

23

13

36

Purchase/sale of reserves

Production

28

45

330

10

142

555

Proven reserves as of December 31

205

129

3,794

86

1,102

5,316

Thereof equity-accounted companies

3,215

86

3,301

Proven reserves excluding equity-accounted companies

205

129

579

1,102

2,015

Proven developed reserves as of December 31

177

87

3,492

68

737

4,561