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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment |
Property, Plant and Equipment | 15. Property, Plant and Equipment ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Oil and Gas |  | Plant and |  | ​ |
($ millions) | ​ | Properties | ​ | Equipment | ​ | Total | ​
Cost |  |  |  |  |  |  | ​
At December 31, 2021 |  | 41 230 |  | 85 329 |  | 126 559 | ​
Additions |  | 1 149 | ​ | 4 261 | ​ | 5 410 | ​
Transfers from exploration and evaluation |  | 34 | ​ | - | ​ | 34 | ​
Changes in decommissioning and restoration |  | 1 321 | ​ | (10) | ​ | 1 311 | ​
Disposals and derecognition |  | (585) | ​ | (884) | ​ | (1 469) | ​
Foreign exchange adjustments | ​ | 101 | ​ | 218 | ​ | 319 | ​
Reclassified to assets held for sale (note 33) | ​ | (4 475) | ​ | (480) | ​ | (4 955) | ​
At December 31, 2022 |  | 38 775 |  | 88 434 |  | 127 209 | ​
Additions | ​ | 591 | ​ | 5 477 | ​ | 6 068 | ​
Acquisition (note 16)(1) |  | 1 793 | ​ | 6 076 | ​ | 7 869 | ​
Transfers | ​ | 958 | ​ | (958) | ​ | - | ​
Changes in decommissioning and restoration |  | 1 346 | ​ | 94 | ​ | 1 440 | ​
Disposals and derecognition |  | (8) | ​ | (1 850) | ​ | (1 858) | ​
Foreign exchange adjustments |  | (128) | ​ | (87) | ​ | (215) | ​
Divestitures (note 16)(1) | ​ | (2 226) | ​ | (12 705) | ​ | (14 931) | ​
At December 31, 2023 |  | 41 101 |  | 84 481 |  | 125 582 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated provision | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2021 |  | (25 227) |  | (35 786) |  | (61 013) | ​
Depreciation, depletion, amortization and impairment |  | (1 049) | ​ | (7 347) | ​ | (8 396) | ​
Disposals and derecognition | ​ | 510 | ​ | 338 | ​ | 848 | ​
Foreign exchange adjustments | ​ | (60) | ​ | (107) | ​ | (167) | ​
Reclassified to assets held for sale (note 33) |  | 4 111 | ​ | 62 | ​ | 4 173 | ​
At December 31, 2022 |  | (21 715) |  | (42 840) |  | (64 555) | ​
Depreciation, depletion, amortization and impairment |  | (1 686) | ​ | (4 352) | ​ | (6 038) | ​
Transfers | ​ | (1 090) | ​ | 1 090 | ​ | - | ​
Disposals and derecognition |  | 4 | ​ | 1 611 | ​ | 1 615 | ​
Foreign exchange adjustments |  | 132 | ​ | 23 | ​ | 155 | ​
Divestitures (note 16)(1) |  | 1 044 | ​ | 9 847 | ​ | 10 891 | ​
At December 31, 2023 |  | (23 311) |  | (34 621) |  | (57 932) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net property, plant and equipment | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022 |  | 17 060 | ​ | 45 594 | ​ | 62 654 | ​
December 31, 2023 |  | 17 790 | ​ | 49 860 | ​ | 67 650 | ​
(1) | In connection with both the Teck acquisition (note 16) and the TotalEnergies Canada acquisition (note16), Suncor was deemed to have divested of its pre-existing interest in Fort Hills, presented as divestments, and re-acquired it at fair value. As such, acquisitions include 100% of the fair value of property, plant and equipment related to the TotalEnergies Canada acquisition, including the reevaluations of the existing working interest and the remaining capacity on a regional pipeline.
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023 | ​ | December 31, 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Accumulated |  | Net Book |  | ​ |  | Accumulated |  | Net Book |
($ millions) | ​ | Cost | ​ | Provision | ​ | Value | ​ | Cost | ​ | Provision | ​ | Value | ​
Oil Sands |  | 89 230 | ​ | (37 629) |  | 51 601 |  | 92 601 | ​ | (45 288) |  | 47 313 | ​
Exploration and Production |  | 17 364 | ​ | (11 750) |  | 5 614 |  | 16 541 | ​ | (11 360) |  | 5 181 | ​
Refining and Marketing |  | 17 923 | ​ | (8 038) |  | 9 885 |  | 17 101 | ​ | (7 435) |  | 9 666 | ​
Corporate and Eliminations |  | 1 065 | ​ | (515) |  | 550 |  | 966 | ​ | (472) |  | 494 | ​
​ |  | 125 582 |  | (57 932) |  | 67 650 |  | 127 209 |  | (64 555) |  | 62 654 | ​
​ At December 31, 2023, the balance of assets under construction and not subject to depreciation or depletion was $7.9 billion (December 31, 2022 – $6.3 billion). For the year ended December 31, 2022, both the U.K operations, reported in the Exploration and Production segment, and the wind and solar assets, reported in the Corporate segment, were classified as assets held for sale (note 33).

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