BP annual data 2002

BP performance versus comparatives: Finding and development costs
This clustered bar chart shows BP's finding and development cost per barrel of oil equivalent compared with the maximum and minimum finding and development costs of other major oil companies.

BP's finding and development cost per barrel of oil equivalent compared with the maximum and minimum finding and development costs of other major oil companies

	Units	2002 (UK GAAP)	2003 (IFRS)	2004 (IFRS)	2005 (IFRS)	2006 (IFRS)
Finding and development costs - BP	$/boe	3.72	3.98	4.65	5.79	8.76

The group adopted International Financial Reporting Standards (IFRS) with effect from 1 January 2005. Financial information for 2003 and 2004 has been restated to reflect the adoption of IFRS, as has the balance sheet at 1 January 2003, BP's date of transition to IFRS. BP chose not to adopt International Accounting Standard No. 39 'Financial Instruments: Recognition and Measurement' (IAS 39) until 1 January 2005, so financial assets and liabilities, including derivatives, are reported on the basis of UK generally accepted accounting practice (UK GAAP) for 2003 and 2004. The balance sheet at 1 January 2005 is also presented to show the effect of adopting IAS 39. The financial information for 2002 has not been restated for IFRS and remains on the basis of UK GAAP.

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BP annual data 2002 - 2006