Accounting for suspended exploratory well costs (Tables)

12 Months Ended

Dec. 31, 2014

Change in Capitalized Suspended Exploratory Well Costs

Change in capitalized suspended exploratory well costs:

millions of dollars	2014		2013		2012
Balance as at January 1		173		167		163
Additions pending the determination of proved reserves		5		12		16
Charged to expense		-		-		-
Reclassification to wells, facilities and equipment based on the determination of proved reserves		(11)		(6)		(12)
Balance as at December 31		167		173		167

Schedule of Aging of Capitalized Exploratory Well Costs

Period end capitalized suspended exploratory well costs:

millions of dollars	2014		2013		2012
Capitalized for a period of one year or less		-		6		16
Capitalized for a period of between one and five years		167		167		151
Capitalized for a period of greater than one year		167		167		151
Total		167		173		167

Number of Projects With Suspended Exploratory Well Costs

The table below provides a numerical breakdown of the number of projects with suspended exploratory well costs which had their first capitalized well drilled in the preceding 12 months and those that have had exploratory well costs capitalized for a period greater than 12 months.

	2014		2013		2012
Number of projects with first capitalized well drilled in the preceding 12 months		-		-		-
Number of projects that have exploratory well costs capitalized for a period of greater than 12 months		1		1		1
Total		1		1		1