Accounting policy
Exploration expenses relate exclusively to the E&P business in the Energy segment and comprise the costs associated with unproved reserves. These include geological and geophysical costs for the identification and investigation of areas with possible oil and gas reserves and the administrative, legal, and consulting costs associated with exploration. They also include all impairments on exploration wells where no proved reserves could be demonstrated.
The following financial information reflects the amounts included in the Group totals for the exploration and appraisal of oil and natural gas resources. These activities are all accounted for within the Energy segment.
In EUR mn |
|
|
|---|---|---|
|
2024 |
2023 |
Impairment losses (exploration & appraisal) |
79 |
152 |
Other exploration expenses |
72 |
70 |
Exploration expenses |
151 |
222 |
|
|
|
Net cash used in operating activities |
71 |
75 |
Net cash used in investing activities |
141 |
171 |