Oil and gas reserves

Proven oil and gas reserves are the volumes of crude oil, natural gas and condensate that, according to the geological, engineering and economic conditions prevailing at the balance sheet date, can be produced in future years. Accordingly, reserve estimates based on this data could be materially different from the volumes that are ultimately recovered. To reduce uncertainties, Wintershall works together with independent, internationally recognized reserve auditors to perform recurring reserves audits of its major crude oil and natural gas fields.

The tables on the following pages show the company’s estimated proven and proven developed reserves as of December 31, 2014, and December 31, 2015, as well as changes attributable to production or other factors.

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Oil 2015

 

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total

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

 

53

78

183

103

10

427

Revisions and other changes

 

(5)

17

23

(3)

1

33

Extensions and discoveries

 

–

65

–

–

–

65

Purchase/sale of reserves

 

–

–

–

–

–

–

Production

 

6

16

13

4

2

41

Proven reserves as of December 31

 

42

144

193

96

9

484

Thereof equity-accounted companies

 

–

1

4

91

–

96

Proven reserves excluding equity-accounted companies

 

42

143

189

5

9

388

Proven developed reserves as of December 31

 

36

62

141

83

8

330

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Gas 2015

 

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total

1

Natural gas can be converted with a factor of 5.6 BSCF per MMBOE (million barrels of oil equivalent).

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

 

146

668

5,412

61

887

7,174

Revisions and other changes

 

7

100

244

(1)

176

526

Extensions and discoveries

 

–

31

–

–

–

31

Purchase/sale of reserves

 

–

(45)

–

–

–

(45)

Production

 

21

96

393

–

122

632

Proven reserves as of December 31

 

132

658

5,263

60

941

7,054

Thereof equity-accounted companies

 

–

54

3,091

59

–

3,204

Proven reserves excluding equity-accounted companies

 

132

604

2,172

1

941

3,850

Proven developed reserves as of December 31

 

102

272

3,746

52

712

4,884

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Oil 2014

 

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total

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

 

57

43

89

117

11

317

Revisions and other changes

 

3

29

103

(10)

1

126

Extensions and discoveries

 

–

–

–

–

–

–

Purchase/sale of reserves

 

–

15

–

–

–

15

Production

 

7

9

9

4

2

31

Proven reserves as of December 31

 

53

78

183

103

10

427

Thereof equity-accounted companies

 

–

–

8

93

–

101

Proven reserves excluding equity-accounted companies

 

53

78

175

10

10

326

Proven developed reserves as of December 31

 

43

42

112

89

7

293

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Gas 2014

 

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total

1

Natural gas can be converted with a factor of 5.6 BSCF per MMBOE (million barrels of oil equivalent).

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

 

208

334

4,773

68

1,009

6,392

Revisions and other changes

 

(38)

38

1,004

(7)

5

1,002

Extensions and discoveries

 

–

–

–

–

–

–

Purchase/sale of reserves

 

–

370

–

–

–

370

Production

 

24

74

365

–

127

590

Proven reserves as of December 31

 

146

668

5,412

61

887

7,174

Thereof equity-accounted companies

 

–

–

3,350

61

–

3,411

Proven reserves excluding equity-accounted companies

 

146

668

2,062

–

887

3,763

Proven developed reserves as of December 31

 

115

350

4,435

53

505

5,458