UK oil giant BP in 2008, added 1.7 billion barrels of new oil and gas to its reserves base, a replacement ratio of 121 per cent, excluding acquisitions and divestments - the 15th successive year in which it has reported the replenishment of reserves by more than annual output. The company said today that it expected to be able to grow production through to 2013 from existing projects. With year-end 2008 reserves of 18.2 billion barrels and a resource base of 43.4 billion barrels, this growth could be maintained until 2020 without any further discoveries. At a total of 61.6 billion barrels of oil equivalent, BP's combined reserves and non-proved resources were sufficient for 43 years of production at the same rates as last year.