Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2012

Commitments and contingencies [Abstract]

Maturity schedule for contractual commitments

The maturity schedule for the contractual commitments as of December 31, 2012 is as follows:

(In US$ millions)	2013		2014		2015		2016		2017		2018 and thereafter
Newbuildings		2,711		1,834		1,059		-		-		-
Total		2,711		1,834		1,059		-		-		-

Maximum potential future payment for each type of guarantee

Guarantees

The Company has issued guarantees in favor of third parties as follows, which is the maximum potential future payment for each type of guarantee:

(In US$ millions)	December 31, 2012		December 31, 2011
Guarantees to customers of the Company's own performance		2,455		1,553
Guarantee in favor of banks		905		764
Guarantee in favor of suppliers		5,522		2,023
Guarantee in favor of Variable Interest Entities		1,655		1,949
Total		10,536		6,289

- Definition

Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

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