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BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Schedule of useful lives applied in depreciation
Useful lives applied in depreciation are as follows:
Vessels (excluding converted FSRU and FLNG)40 years
Vessels - converted FSRU
20 years from conversion date
Vessels - FLNG
30 years from conversion date
Deferred drydocking expenditure5 years
Deferred drydocking expenditure - FLNG
20 years
Mooring equipment - FLNG
8 years
Office equipment and fittings
3 to 6 years
(in thousands of $)
Vessels and equipmentMooring equipmentDeferred Drydocking expenditureOffice equipment and fittingsTotal
Cost
As of January 11,374,607 45,771 109,094 7,264 1,536,736 
Additions— — — 77 77 
As of December 311,374,607 45,771 109,094 7,341 1,536,813 
Depreciation, amortization and impairment
As of January 1(223,999)(20,363)(22,767)(5,188)(272,317)
Charge for the year (1)
(39,449)(5,543)(5,696)(600)(51,288)
Impairment (2)
(72,607)— (3,548)— (76,155)
As of December 31(336,055)(25,906)(32,011)(5,788)(399,760)
Net book value as of December 31, 2022
1,038,552 19,865 77,083 1,553 1,137,053 
(in thousands of $)
Vessels and equipmentMooring equipmentDeferred Drydocking expenditureOffice equipment and fittingsTotal
Cost
As of January 11,374,607 45,771 109,094 7,287 1,536,759 
Additions— — — 73 73 
Write-offs (3)
— — — (96)(96)
As of December 311,374,607 45,771 109,094 7,264 1,536,736 
Depreciation, amortization and impairment
As of January 1(182,474)(14,820)(15,948)(4,267)(217,509)
Charge for the year(41,525)(5,543)(6,819)(1,017)(54,904)
Write-offs (3)
— — — 96 96 
As of December 31(223,999)(20,363)(22,767)(5,188)(272,317)
Net book value as of December 31, 2021
1,150,608 25,408 86,327 2,076 1,264,419 
(1) Depreciation and amortization charges for the years ended December 31, 2022 and 2021, excludes $0.5 million and, $0.5 million respectively, of amortization charges in relation to the Cameroon license fee.

(2) Entry into the Arctic SPA changed the expected recovery of Golar Arctic’s carrying amount from continued use in operations over her remaining useful life, to recovery from sale, and was considered an indicator of impairment. As the revised future estimated cash flows were less than her carrying amount, an impairment charge of $76.2 million was recognized during the year ended December 31, 2022, reflecting an adjustment to her fair value (based on average broker valuation at date of measurement and represents the exit price in the principal LNG carrier sales market).

(3) Write-offs relates to fully depreciated or fully amortized assets.