Property, Plant and Equipment

3 Months Ended

Mar. 31, 2014

Property Plant And Equipment Disclosure [Abstract]

Property, Plant and Equipment [Text Block]

 Property, Plant and Equipment

	March 31,			December 31,
(In millions)	2014			2013
North America E&P	$	27,309		$	26,755
International E&P	12,519			12,428
Oil Sands Mining	10,514			10,436
Corporate	420			421
Total property, plant and equipment	50,762			50,040
Less accumulated depreciation, depletion and amortization	(22,336		)	(21,895		)
Net property, plant and equipment	$	28,426		$	28,145

Beginning in the third quarter of 2013, our Libya operations have been impacted by on-going third-party labor strikes at the Es Sider oil terminal and there remains uncertainty around future production and sales levels. We have had no oil liftings in Libya since July 2013. We and our partners in the Waha concessions continue to assess the situation and the condition of our assets in Libya. As of March 31, 2014, our net property, plant and equipment investment in Libya is approximately $770 million.

Exploratory well costs capitalized greater than one year after completion of drilling were $153 million as of March 31, 2014, a net decrease of $128 million from December 31, 2013. This net decrease was the result of: a decrease of $153 million due to the sale of our interests in Angola Blocks 31 and 32, a decrease of $26 million due to the commencement of drilling at the Boyla development offshore Norway, and an increase of $51 million related to the Shenandoah prospect in the Gulf of Mexico, with costs incurred primarily in 2012 and 2013, which has now been suspended for more than one year. Additional appraisal drilling on the non-operated Shenandoah prospect is expected to begin in 2014.