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Assets Held for Sale or Sold
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6 Months Ended |
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Jun. 30, 2013
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| Assets Held for Sale or Sold [Abstract] | |
| Assets Held for Sale or Sold | Note 6—Assets Held for Sale or Sold
Our interest in Kashagan and the Algerian and Nigerian business units were considered held for sale at June 30, 2013. These assets are classified as discontinued operations. See Note 3—Discontinued Operations, for additional information.
In June 2013, we sold a portion of our working interests in the Browse and Canning basins for approximately $402 million. We received $369 million in the second quarter of 2013 and recorded a receivable of $33 million as of June 30, 2013. Because we retain a working interest in the unproved properties, proceeds were treated as a reduction of the carrying value of properties, plants and equipment (PP&E) with no gain or loss on disposition recognized. Prior to the partial disposition, the carrying value of the PP&E associated with our interests, included in our Asia Pacific and Middle East segment, was $486 million. |