Property, Plant and Equipment

3 Months Ended

Mar. 31, 2013

Property Plant And Equipment Disclosure [Abstract]

Property, Plant and Equipment [Text Block]

Property, Plant and Equipment



	March 31,			December 31,
(In millions)	2013			2012
North America E&P	$	24,500		$	23,748
International E&P	13,429			13,214
Oil Sands Mining	10,171			10,127
Corporate	477			449
Total property, plant and equipment	48,577			47,538
Less accumulated depreciation, depletion and amortization	(20,195		)	(19,266		)
Net property, plant and equipment	$	28,382		$	28,272

In the first quarter of 2011, production operations in Libya were suspended. In the fourth quarter of 2011, limited production resumed. Since that time, average sales volumes have increased to near pre-conflict levels. We and our partners in the Waha concessions continue to assess the condition of our assets in Libya and uncertainty around sustained production and sales levels remains. As of March 31, 2013, our net property, plant and equipment investment in Libya was approximately $748 million.

Exploratory well costs capitalized greater than one year after completion of drilling were $220 million as of March 31, 2013. The net decrease in such costs from December 31, 2012 primarily related to the conveyance of our interest in the Marcellus natural gas shale play to the operator in February 2013.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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