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Provisions (Tables)
 12 Months Ended
Dec. 31, 2022
Text Block [abstract]  
Summary of Information About Provisions
 
    
        Restoration
1
US$m
    
        Employee
benefits
US$m
    
Onerous
        contracts
2
US$m
    
Other
        US$m
     
Total
        US$m
  
           
Year ended 31 December 2022
                                          
           
At 1 January 2022
   
 
2,218
 
  
 
286
 
  
 
214
 
  
 
106
 
   
 
2,824
 
           
Acquisitions through business combination
3
   
 
4,310
 
  
 
329
 
  
 
-
 
  
 
165
 
   
 
4,804
 
           
Change in provision
   
 
(382
) 
  
 
(98
) 
  
 
(216
) 
  
 
137
 
   
 
(559
) 
           
Unwinding of present value discount
   
 
107
 
  
 
-
 
  
 
2
 
  
 
1
 
   
 
110
 
           
Carrying amount at 31 December 2022
   
 
6,253
 
  
 
517
 
  
 
-
 
  
 
409
 
   
 
7,179
 
           
Current
   
 
575
 
  
 
331
 
  
 
-
 
  
 
313
 
   
 
1,219
 
           
Non-current
   
 
5,678
 
  
 
186
 
  
 
-
 
  
 
96
 
   
 
5,960
 
           
Net carrying amount
   
 
6,253
 
  
 
517
 
  
 
-
 
  
 
409
 
   
 
7,179
 
           
Year ended 31 December 2021
                                          
           
At 1 January 2021
   
 
2,134
 
  
 
295
 
  
 
349
 
  
 
129
 
   
 
2,907
 
           
Change in provision
   
 
60
 
  
 
(9)
 
  
 
(140)
 
  
 
(23)
 
   
 
(112)
 
           
Unwinding of present value discount
   
 
24
 
  
 
-
 
  
 
5
 
  
 
-
 
   
 
29
 
           
Carrying amount at 31 December 2021
   
 
2,218
 
  
 
286
 
  
 
214
 
  
 
106
 
   
 
2,824
 
           
Current
   
 
235
 
  
 
269
 
  
 
-
 
  
 
101
 
   
 
605
 
           
Non-current
   
 
1,983
 
  
 
17
 
  
 
214
 
  
 
5
 
   
 
2,219
 
           
Net carrying amount
   
 
2,218
 
  
 
286
 
  
 
214
 
  
 
106
 
   
 
2,824
 
 
1.
2022 change in provision is due to a revision of discount rates of $978 million (primarily due to an increase in risk free rates) and provisions used of $262 million, offset by changes in estimates of $858 million. Changes in estimates are due to new activities, increase in scope of removal and cost and rate escalations supported by the most recent estimates and benchmarks.
2.
2022 change in provision is due to changes in estimates of $245 million offset by provisions used of $29 million.
3.
Acquisitions through business combination have been recognised on a provisional basis. Adjustments will be made to the provisional amounts if new information is obtained within 12 months from the acquisition date. Refer to Note B.5 for details.
Summary of Oil And Gas Pricing The nominal TTF, Brent oil prices and HH gas prices used at 31 December 2022 were:
        
 
                2023
 
   
 
                2024
 
   
 
                2025
 
   
 
                2026
 
   
 
                2027
 
    
      
  
TTF (US$/MMBtu)
   
 
47.9
 
   
 
36.4
 
   
 
22.3
 
   
 
8.8
 
   
 
9.0
 
    
   
Brent (US$/bbl)
   
 
87
 
   
 
78
 
   
 
74
 
   
 
76
 
   
 
77
2
 
    
   
HH (US$/MMBtu)
   
 
6.1
 
   
 
4.7
 
   
 
4.0
 
   
 
4.1
 
   
 
4.2
3
 
    
1. For committed volumes, contracted pricing has been applied.
2. Long-term oil prices are based on US$70/bbl (2022 real terms) from 2025 and prices are escalated at 2.0% onwards.
3. Long-term gas prices are based on US$3.8/MMBtu (2022 real terms) from 2025. All long-term prices are escalated at 2.0%.