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, BASF 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, 2015, and 2016, as well as changes attributable to production or other factors.

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Oil 2016

Consolidated and equity-accounted companies

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total Group

Thereof at equity

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

 

42

144

193

96

9

484

96

Revisions and other changes

 

–

5

6

(7)

–

4

(3)

Extensions and discoveries

 

–

–

–

–

–

–

–

Purchase/sale of reserves

 

–

–

–

–

–

–

–

Production

 

6

22

15

3

2

48

4

Proven reserves as of December 31

 

36

127

184

86

7

440

89

Thereof equity-accounted companies

 

–

1

6

82

–

89

89

Proven developed reserves as of December 31

 

32

60

144

77

7

320

80

Thereof equity-accounted companies

 

–

–

6

74

–

80

80

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Gas 2016

Consolidated and equity-accounted companies

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total Group

Thereof at equity

Developed and undeveloped gas reserves as of January 1, in million barrels of oil equivalent (MMBOE)

 

24

118

940

11

167

1,260

572

Revisions and other changes

 

3

8

19

(2)

11

39

6

Extensions and discoveries

 

–

–

–

–

–

–

–

Purchase/sale of reserves

 

–

–

–

–

–

–

–

Production

 

4

15

74

–

24

117

58

Proven reserves as of December 31

 

23

111

885

9

154

1,182

520

Thereof equity-accounted companies

 

–

6

505

9

–

520

520

Proven developed reserves as of December 31

 

23

50

628

8

147

856

360

Thereof equity-accounted companies

 

–

6

346

8

–

360

360

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Oil 2015

Consolidated and equity-accounted companies

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total Group

Thereof at equity

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

 

53

78

183

103

10

427

102

Revisions and other changes

 

(5)

17

23

(3)

1

33

(3)

Extensions and discoveries

 

–

65

–

–

–

65

1

Purchase/sale of reserves

 

–

–

–

–

–

–

–

Production

 

6

16

13

4

2

41

4

Proven reserves as of December 31

 

42

144

193

96

9

484

96

Thereof equity-accounted companies

 

–

1

4

91

–

96

96

Proven developed reserves as of December 31

 

36

62

141

83

8

330

83

Thereof equity-accounted companies

 

–

–

4

79

–

83

83

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Gas 2015

Consolidated and equity-accounted companies

 

Germany

Rest of Europe

Russia

North Africa, Middle East

South America

Total Group

Thereof at equity

Developed and undeveloped gas reserves as of January 1, in million barrels of oil equivalent (MMBOE)

 

27

119

966

11

158

1,281

629

Revisions and other changes

 

1

18

43

–

31

93

12

Extensions and discoveries

 

–

6

–

–

–

6

–

Purchase/sale of reserves

 

–

(8)

–

–

–

(8)

(8)

Production

 

4

17

69

–

22

112

61

Proven reserves as of December 31

 

24

118

940

11

167

1,260

572

Thereof equity-accounted companies

 

–

9

552

11

–

572

572

Proven developed reserves as of December 31

 

18

49

669

9

127

872

416

Thereof equity-accounted companies

 

–

9

398

9

–

416

416