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Exploration and Evaluation Assets, Net

12 Months Ended

Dec. 31, 2022

Disclosure Of Exploration And Evaluation Assets [Abstract]




19. EXPLORATION AND EVALUATION ASSETS, NET


			Total
As at December 31, 2020			623
Acquisitions (Note 5)			45
Additions			55
Write-downs			(9)
Change in Decommissioning Liabilities			6
As at December 31, 2021			720

Additions			37
Write-downs			(64)
Change in Decommissioning Liabilities			(12)
Exchange Rate Movements and Other (1)			4

As at December 31, 2022			685

(1)Immediately prior to the Sunrise Acquisition, Bay du Nord had a carrying value of $nil. The Company re-measured its interest in Bay du Nord to $40 million and recognized a revaluation gain of $40 million.

For the year ended December 31, 2022, $2 million and $62 million of previously capitalized E&E costs were written off as exploration expense in the Oil Sands segment and Offshore segment, respectively (2021 – $9 million in the Oil Sands segment), as the carrying value was not considered to be recoverable.