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Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2020
Property, plant and equipment [abstract]  
Detailed information about property, plant and equipment
 
Exploration and Production
Oil Sands
 Mining and Upgrading
Midstream and Refining
Head
Office
Total
 
North
America
North Sea
Offshore
Africa
 
 
 
 
Cost
 
 
 
 
 
 
 
At December 31, 2018$67,007 

$7,321 

$5,471 

$43,147 

$441 

$435 

$123,822 
Additions2,613 

349 

233 

2,154 

10 

34 

5,393 
Acquisition of Devon assets3,325 — — — — — 3,325 
Transfers from E&E assets
219 

— 

— 

— 

— 

— 

219 
Derecognitions (1)
(537)

— 

(1,515)

(285)

— 

(3)

(2,340)
Foreign exchange adjustments and other
— 

(374)

(256)

— 

— 

— 

(630)
At December 31, 201972,627 

7,296 

3,933 

45,016 

451 

466 

129,789 
Additions/Acquisitions
1,789 

104 

94 

1,328 

6 

19 

3,340 
Transfers from E&E assets
194 

— 

— 

— 

— 

— 

194 
Derecognitions(521)

(3)

— 

(634)

— 

— 

(1,158)
Disposals(92)— — — — — (92)
Foreign exchange adjustments and other
— 

(114)

(64)

— 

— 

— 

(178)
At December 31, 2020$73,997 $7,283 $3,963 $45,710 $457 $485 $131,895 
Accumulated depletion and depreciation
 
 
 
 
 
At December 31, 2018$43,881 

$5,735 

$4,203 

$4,981 

$138 

$325 

$59,263 
Expense
3,215 

256 

214 

1,564 

15 

23 

5,287 
Derecognitions (1)
(537)— 

(1,515)

(285)— (3)(2,340)
Foreign exchange adjustments and other
18 

(279)

(190)

(13)

— 

— 

(464)
At December 31, 201946,577 

5,712 

2,712 

6,247 

153 

345 

61,746 
Expense
3,676 

247 

161 

1,668 

15 

25 

5,792 
Derecognitions
(521)

(3)

— 

(634)

— 

— 

(1,158)
Disposals(63)— — — — — (63)
Foreign exchange adjustments and other
(28)

(103)

(51)

8 

— 

— 

(174)
At December 31, 2020$49,641 $5,853 $2,822 $7,289 $168 $370 $66,143 
Net book value
- at December 31, 2020$24,356 $1,430 $1,141 $38,421 $289 $115 $65,752 
- at December 31, 2019$26,050 $1,584 $1,221 $38,769 $298 $121 $68,043 
(1)Following demobilization of the FPSO at the Olowi field, Gabon in 2019, the Company derecognized property, plant and equipment and associated accumulated depletion and depreciation of $1,515 million.
Summary of net assets acquired and liabilities assumed
The following provides a summary of the net assets acquired relating to the acquisition:
Property, plant and equipment$750 
Exploration and evaluation assets15 
Other long-term assets204 
Long-term debt(397)
Asset retirement obligations(13)
Other long-term liabilities(442)
Deferred tax asset 211 
Net assets acquired 328 
Less: cash consideration111 
Gain on acquisition (1)
$217 
(1) Gain on acquisition of $217 million represents the excess of the fair value of the net assets acquired compared with the total purchase consideration.
The following provides a summary of the net assets acquired relating to the acquisition:
Property, plant and equipment
$3,325 
Exploration and evaluation assets
91 
Inventory, prepaids and other long-term assets
195 
Accrued liabilities
(21)
Asset retirement obligations
(178)
Net assets acquired
$3,412