Annual Report 2012
Annual Report 2012
Annual Report 2012
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Financial Statements (International)<br />
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)<br />
for the year ended 31 December <strong>2012</strong><br />
17 PROPERTY, PLANT AND EQUIPMENT (Continued)<br />
The Company - by asset class<br />
160<br />
<strong>Annual</strong> <strong>Report</strong> <strong>2012</strong> CHINA PETROLEUM & CHEMICAL CORPORATION<br />
Equipment,<br />
Oil and gas, machinery<br />
Building properties and others Total<br />
RMB million RMB million RMB million RMB million<br />
Cost:<br />
Balance at 1 January 2011 47,405 365,367 441,890 854,662<br />
Additions 67 2,298 1,778 4,143<br />
Transferred from construction in progress 5,023 42,392 32,481 79,896<br />
Transferred from subsidiaries 554 — 6,724 7,278<br />
Transferred to subsidiaries (8) — (97) (105)<br />
Reclassification (1,794) 16 1,778 —<br />
Reclassification to lease prepayments and other assets (595) — (1,837) (2,432)<br />
Disposals (585) (188) (7,511) (8,284)<br />
Balance at 31 December 2011 50,067 409,885 475,206 935,158<br />
Balance at 1 January <strong>2012</strong> 50,067 409,885 475,206 935,158<br />
Additions 353 2,164 799 3,316<br />
Transferred from construction in progress 3,340 40,214 35,489 79,043<br />
Transferred to subsidiaries (108) — (14,376) (14,484)<br />
Reclassification 16,898 (65,204) 48,306 —<br />
Contributed to a jointly controlled entity — — (271) (271)<br />
Reclassification to lease prepayments and other assets (1,726) — (8,270) (9,996)<br />
Disposals (815) — (6,806) (7,621)<br />
Balance at 31 December <strong>2012</strong> 68,009 387,059 530,077 985,145<br />
Accumulated depreciation:<br />
Balance at 1 January 2011 21,389 172,837 223,566 417,792<br />
Depreciation charge for the year 1,893 26,582 21,886 50,361<br />
Transferred from subsidiaries 87 — 1,237 1,324<br />
Transferred to subsidiaries (3) — (25) (28)<br />
Impairment losses for the year 36 2,153 560 2,749<br />
Reclassification 44 14 (58) —<br />
Reclassification to lease prepayments and other assets (20) — (307) (327)<br />
Written back on disposals (510) (167) (6,861) (7,538)<br />
Balance at 31 December 2011 22,916 201,419 239,998 464,333<br />
Balance at 1 January <strong>2012</strong> 22,916 201,419 239,998 464,333<br />
Depreciation charge for the year 2,180 24,810 28,306 55,296<br />
Transferred to subsidiaries (52) — (2,438) (2,490)<br />
Contributed to a jointly controlled entity — — (219) (219)<br />
Impairment losses for the year — 1,006 8 1,014<br />
Reclassification 2,095 (15,639) 13,544 —<br />
Reclassification to lease prepayments and other assets (146) — (2,067) (2,213)<br />
Written back on disposals (274) — (5,719) (5,993)<br />
Balance at 31 December <strong>2012</strong> 26,719 211,596 271,413 509,728<br />
Net book value:<br />
Balance at 1 January 2011 26,016 192,530 218,324 436,870<br />
Balance at 31 December 2011 27,151 208,466 235,208 470,825<br />
Balance at 31 December <strong>2012</strong> 41,290 175,463 258,664 475,417<br />
The additions to the exploration and production segment and oil and gas properties of the Group and the Company for the year ended 31 December<br />
<strong>2012</strong> included RMB 2,833 million (2011: 2,425 million) and RMB 2,164 million (2011: RMB 2,302 million) of estimated dismantlement costs for<br />
site restoration (Note 32).
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