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Property, Plant and Equipment, Net (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of Property Plant And Equipment [Abstract]  
Summary of Property, Plant and Equipment

 

Upstream Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Development

& Production

 

 

Other

Upstream

 

 

Refining

Equipment

 

 

Other (1)

 

 

Total

 

COST

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As at December 31, 2016

 

31,941

 

 

 

333

 

 

 

5,259

 

 

 

1,074

 

 

 

38,607

 

Additions

 

1,324

 

 

 

-

 

 

 

168

 

 

 

89

 

 

 

1,581

 

Acquisitions (Note 9) (2)

 

26,317

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

26,317

 

Transfers from E&E Assets (Note 17)

 

6

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

6

 

Transfers to Assets Held for Sale (Note 11)

 

(19,719

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(19,719

)

Change in Decommissioning Liabilities

 

(67

)

 

 

-

 

 

 

-

 

 

 

3

 

 

 

(64

)

Exchange Rate Movements and Other

 

(28

)

 

 

-

 

 

 

(364

)

 

 

1

 

 

 

(391

)

Divestitures (Notes 8 and 11) (2)

 

(12,333

)

 

 

-

 

 

 

(2

)

 

 

-

 

 

 

(12,335

)

As at December 31, 2017

 

27,441

 

 

 

333

 

 

 

5,061

 

 

 

1,167

 

 

 

34,002

 

Additions

 

1,065

 

 

 

-

 

 

 

204

 

 

 

61

 

 

 

1,330

 

Transfers from Assets Held for Sale (Note 11)

 

469

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

469

 

Change in Decommissioning Liabilities

 

(279

)

 

 

-

 

 

 

(3

)

 

 

(3

)

 

 

(285

)

Exchange Rate Movements and Other

 

(6

)

 

 

-

 

 

 

370

 

 

 

-

 

 

 

364

 

Divestitures (Note 8)

 

(644

)

 

 

-

 

 

 

-

 

 

 

(12

)

 

 

(656

)

As at December 31, 2018

 

28,046

 

 

 

333

 

 

 

5,632

 

 

 

1,213

 

 

 

35,224

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACCUMULATED DEPRECIATION, DEPLETION AND AMORTIZATION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As at December 31, 2016

 

20,088

 

 

 

308

 

 

 

1,076

 

 

 

709

 

 

 

22,181

 

DD&A

 

1,653

 

 

 

23

 

 

 

209

 

 

 

68

 

 

 

1,953

 

Impairment Losses (Note 10)

 

77

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

77

 

Transfers to Assets Held for Sale (Note 11)

 

(16,120

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(16,120

)

Exchange Rate Movements and Other

 

17

 

 

 

-

 

 

 

(91

)

 

 

1

 

 

 

(73

)

Divestitures (Notes 8 and 11) (2)

 

(3,611

)

 

 

-

 

 

 

(1

)

 

 

-

 

 

 

(3,612

)

As at December 31, 2017

 

2,104

 

 

 

331

 

 

 

1,193

 

 

 

778

 

 

 

4,406

 

DD&A

 

1,874

 

 

 

2

 

 

 

217

 

 

 

64

 

 

 

2,157

 

Transfers from Assets Held for Sale (Note 11)

 

35

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

35

 

Impairment Losses (Note 10)

 

106

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

106

 

Impairment Reversals (Note 10)

 

(132

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(132

)

Exchange Rate Movements and Other

 

(31

)

 

 

-

 

 

 

32

 

 

 

-

 

 

 

1

 

Divestitures (Note 8)

 

(38

)

 

 

-

 

 

 

-

 

 

 

(9

)

 

 

(47

)

As at December 31, 2018

 

3,918

 

 

 

333

 

 

 

1,442

 

 

 

833

 

 

 

6,526

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CARRYING VALUE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As at December 31, 2016

 

11,853

 

 

 

25

 

 

 

4,183

 

 

 

365

 

 

 

16,426

 

As at December 31, 2017

 

25,337

 

 

 

2

 

 

 

3,868

 

 

 

389

 

 

 

29,596

 

As at December 31, 2018

 

24,128

 

 

 

-

 

 

 

4,190

 

 

 

380

 

 

 

28,698

 

(1)

Includes crude-by-rail terminal, office furniture, fixtures, leasehold improvements, information technology and aircraft.

(2)

In connection with the Acquisition, Cenovus was deemed to have disposed of its pre-existing interest in FCCL and re-acquired it at fair value as required by IFRS 3. The carrying value of the pre-existing interest in FCCL was $8,602 million.

Summary of PP&E Under Construction and Not Subject to DD&A

PP&E includes the following amounts in respect of assets under construction and not subject to DD&A:

 

 

 

 

As at December 31,

2018

 

 

2017

 

Development and Production

 

1,818

 

 

 

1,809

 

Refining Equipment

 

181

 

 

 

131

 

 

 

1,999

 

 

 

1,940