v3.19.3.a.u2
Accounting For Suspended Exploratory Well Costs (Tables)
 12 Months Ended
Dec. 31, 2019
Accounting For Suspended Exploratory Well Costs [Abstract]  
Change In Capitalized Suspended Exploratory Well Costs

 

 

 

 

2019

 

2018

 

2017

 

 

 

 

(millions of dollars)

 

 

 

 

 

 

 

 

 

Balance beginning at January 1

 

4,160

 

3,700

 

4,477

 

Additions pending the determination of proved reserves

 

532

 

564

 

906

 

Charged to expense

 

(46)

 

(7)

 

(1,205)

 

Reclassifications to wells, facilities and equipment based on the

 

 

 

 

 

 

 

 

determination of proved reserves

 

(37)

 

(48)

 

(497)

 

Divestments/Other

 

4

 

(49)

 

19

Ending balance at December 31

 

4,613

 

4,160

 

3,700

Ending balance attributed to equity companies included above

 

306

 

306

 

306
Period End Capitalized Suspended Exploratory Well Costs

 

 

 

 

2019

 

2018

 

2017

 

 

 

 

(millions of dollars)

 

 

 

 

 

 

 

 

 

Capitalized for a period of one year or less

 

532

 

564

 

906

 

Capitalized for a period of between one and five years

 

2,206

 

2,028

 

1,345

 

Capitalized for a period of between five and ten years

 

1,411

 

1,150

 

1,064

 

Capitalized for a period of greater than ten years

 

464

 

418

 

385

Capitalized for a period greater than one year - subtotal

 

4,081

 

3,596

 

2,794

 

 

Total

 

4,613

 

4,160

 

3,700
Number Of Projects With Suspended Exploratory Well Costs

 

 

 

 

2019

 

2018

 

2017

Number of projects that only have exploratory well costs capitalized for a period

 

 

 

 

 

 

of one year or less

 

4

 

6

 

11

Number of projects that have exploratory well costs capitalized for a period

 

 

 

 

 

 

greater than one year

 

46

 

52

 

46

 

 

Total

 

50

 

58

 

57
Additional Detail For Projects With Completed Exploratory Activity Progressing Toward Development

 

 

 

Years Wells

 

 

 

Dec. 31,

Drilled /

 

 

Country/Project

2019

Acquired

Comment

 

(millions of dollars)

 

 

Angola

 

 

 

 

 

 

 

- AB32 Central NE Hub

69

 

2006

-

2014

Evaluating development plan for tieback to existing production facilities.

 

- Kaombo Split Hub

20

 

2005

-

2006

Evaluating development plan to tie into planned production facilities.

 

Phase 2

 

 

 

 

 

 

 

Argentina

 

 

 

 

 

 

 

- La Invernada

72

 

2014

Evaluating development plan to tie into planned infrastructure.

 

Australia

 

 

 

 

 

 

 

- East Pilchard

7

 

2001

Gas field near Kipper/Tuna development, awaiting capacity in existing/

 

 

 

 

 

 

 

planned infrastructure.

 

- Gorgon Area Ullage

315

 

1994

-

2015

Evaluating development plans to tie into existing LNG facilities.

 

- SE Longtom

10

 

2010

Gas field near Tuna development, awaiting capacity in existing/planned

 

 

 

 

 

 

 

infrastructure.

 

- SE Remora

32

 

2010

Gas field near Marlin development, awaiting capacity in existing/planned

 

 

 

 

 

 

 

infrastructure.

 

Guyana

 

 

 

 

 

 

 

- Payara

120

 

2017

-

2018

Continuing development plan discussions with the government.

 

Iraq

 

 

 

 

 

 

 

- Kurdistan Pirmam

109

 

2015

Evaluating commercialization alternatives, while waiting for government

 

 

 

 

 

 

 

approval to enter Gas Holding Period.

 

Kazakhstan

 

 

 

 

 

 

 

- Kairan

53

 

2004

-

2007

Evaluating commercialization and field development alternatives, while

 

 

 

 

 

 

 

continuing discussions with the government regarding the development plan.

 

Mozambique

 

 

 

 

 

 

 

- Rovuma LNG Future

120

 

2017

Evaluating/progressing development plan to tie into planned LNG facilities.

 

Non-Straddling Train

 

 

 

 

 

 

 

- Rovuma LNG Phase 1

150

 

2017

Progressing development plan to tie into planned LNG facilities.

 

- Rovuma LNG Unitized

35

 

2017

Evaluating/progressing development plan to tie into planned LNG facilities.

 

Trains

 

 

 

 

 

 

 

Nigeria

 

 

 

 

 

 

 

- Bolia

15

 

2002

-

2006

Evaluating development plan, while continuing discussions with the

 

 

 

 

 

 

 

government regarding regional hub strategy.

 

- Bonga North

34

 

2004

-

2009

Evaluating/progressing development plan for tieback to existing/planned

 

 

 

 

 

 

 

infrastructure.

 

- Bosi

79

 

2002

-

2006

Development activity under way, while continuing discussions with the

 

 

 

 

 

 

 

government regarding development plan.

 

- Bosi Central

16

 

2006

Development activity under way, while continuing discussions with the

 

 

 

 

 

 

 

government regarding development plan.

 

- Erha Northeast

26

 

2008

Evaluating development plan for tieback to existing production facilities.

 

- OML 138 Ukot SS

13

 

2015

Evaluating development plan for tieback to existing production facilities.

 

- OML 138 Ukot SW

41

 

2014

Evaluating development plan for tieback to existing production facilities.

 

- Pegi

32

 

2009

Awaiting capacity in existing/planned infrastructure.

 

- Satellite Field

12

 

2013

Evaluating development plan to tie into planned production facilities.

 

Development Phase 2

 

 

 

 

 

 

 

- Other (4 projects)

10

 

2001

-

2002

Evaluating and pursuing development of several additional discoveries.

 

 

 

Years Wells

 

 

 

Dec. 31,

Drilled /

 

 

Country/Project

2019

Acquired

Comment

 

(millions of dollars)

 

 

Papua New Guinea

 

 

 

 

 

 

 

- Papua LNG

246

 

2017

Evaluating/progressing development plans.

 

- P'nyang

115

 

2012

-

2018

Evaluating/progressing development plans.

 

Republic of Congo

 

 

 

 

 

 

 

- Mer Tres Profonde Sud

56

 

2000

-

2007

Evaluating development alternatives, while continuing discussions with the

 

 

 

 

 

 

 

government regarding development plan.

 

Romania

 

 

 

 

 

 

 

- Neptun Deep

536

 

2012

-

2016

Continuing discussions with the government regarding development plan.

 

Tanzania

 

 

 

 

 

 

 

- Tanzania Block 2

537

 

2012

-

2018

Evaluating development alternatives while continuing discussions with the

 

 

 

 

 

 

 

government regarding development plan.

 

Vietnam

 

 

 

 

 

 

 

- Blue Whale

296

 

2011

-

2015

Evaluating/progressing development plans.

 

Total 2019 (32 projects)

3,176