Capitalized costs

Capitalized costs represent the total expenditures for proved and unproved mineral interests and related support equipment and facilities utilized in oil and gas exploration and production activities, together with related accumulated depreciation, depletion and amortization. Capitalized costs by geographical area consist of the following:

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(€ million)

Italy

Rest of Europe

North Africa

Sub-Saharan Africa

Kazakh-
stan

Rest of Asia

Americas

Australia and Oceania

Total

(a)

The amounts include net capitalized financial charges totalling €672 million in 2012 an €715 million in 2013 for the consolidated subsidiaries and €24 million in 2012 and €12 million in 2013 for equity-accounted entities.

(b)

The amounts do not include costs associated with exploration activities which are capitalized in order to reflect their investment nature and amortized in full when incurred. The “Successful Effort Method” application would have led to an increase in net capitalized costs of €4,071 million in 2012 and €3,703 million in 2013 for the consolidated subsidiaries and €74 million in 2012 and €76 million in 2013 for equity-accounted entities.

2012

 

 

 

 

 

 

 

 

 

Consolidated subsidiaries

 

 

 

 

 

 

 

 

Proved mineral interests

12,579

12,428

16,240

20,875

2,451

6,477

10,018

1,894

82,962

Unproved mineral interests

31

324

411

3,047

39

1,467

1,249

200

6,768

Support equipment and facilities

267

39

1,421

961

75

78

59

12

2,912

Incomplete wells and other

732

3,347

3,181

974

5,746

358

876

1

15,215

Gross Capitalized Costs

13,609

16,138

21,253

25,857

8,311

8,380

12,202

2,107

107,857

Accumulated depreciation, depletion and amortization

(9,364)

(9,346)

(10,671)

(14,225)

(928)

(6,002)

(7,879)

(832)

(59,247)

Net Capitalized Costs consolidated subsidiaries (a) (b)

4,245

6,792

10,582

11,632

7,383

2,378

4,323

1,275

48,610

Equity-accounted entities

 

 

 

 

 

 

 

 

Proved mineral interests

 

1

83

52

 

964

322

 

1,422

Unproved mineral interests

 

54

 

 

 

279

 

 

333

Support equipment and facilities

 

 

7

 

 

6

3

 

16

Incomplete wells and other

 

22

1

1,052

 

114

200

 

1,389

Gross Capitalized Costs

77

91

1,104

 

1,363

525

 

3,160

Accumulated depreciation, depletion and amortization

 

(55)

(72)

 

 

(421)

(111)

 

(659)

Net Capitalized Costs
equity-accounted entities (a) (b)

22

19

1,104

 

942

414

 

2,501

 

 

 

 

 

 

 

 

 

 

2013

 

 

 

 

 

 

 

 

 

Consolidated subsidiaries

 

 

 

 

 

 

 

 

Proved mineral interests

13,516

12,497

18,237

21,854

2,351

6,604

10,652

1,662

87,373

Unproved mineral interests

31

385

428

2,835

37

1,441

1,419

190

6,766

Support equipment and facilities

269

37

1,370

992

78

90

57

12

2,905

Incomplete wells and other

799

2,803

1,105

1,851

6,069

634

669

24

13,954

Gross Capitalized Costs

14,615

15,722

21,140

27,532

8,535

8,769

12,797

1,888

110,998

Accumulated depreciation, depletion and amortization

(10,269)

(8,581)

(11,370)

(15,562)

(1,000)

(6,269)

(8,406)

(723)

(62,180)

Net Capitalized Costs consolidated subsidiaries (a) (b)

4,346

7,141

9,770

11,970

7,535

2,500

4,391

1,165

48,818

Equity-accounted entities

 

 

 

 

 

 

 

 

Proved mineral interests

 

2

77

34

 

438

429

 

980

Unproved mineral interests

 

52

 

 

 

74

 

 

126

Support equipment and facilities

 

 

7

 

 

1

3

 

11

Incomplete wells and other

 

20

4

1,059

 

 

378

 

1,461

Gross Capitalized Costs

74

88

1,093

 

513

810

 

2,578

Accumulated depreciation, depletion and amortization

 

(56)

(67)

 

 

(405)

(145)

 

(673)

Net Capitalized Costs
equity-accounted entities (a) (b)

18

21

1,093

 

108

665

 

1,905