Sasol Form 20-F for the year ended 30 June 2021 - Book - Page 123
SYNTHETIC OIL
TABLE 1—COSTS INCURRED FOR PROPERTY ACQUISITION, EXPLORATION, AND DEVELOPMENT
ACTIVITIES
The table below provides the costs incurred during the year in synthetic oil property acquisition, exploration
and development activities, whether capitalised or charged to income directly.
Synthetic oil—South Africa
(Rand in millions)
2021
2020
2019
Year ended 30 June
Acquisition of proved properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Acquisition of unproved properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exploration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total costs incurred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—
—
77,3
1 656,9
1 734,2
6,0
—
95,6
2 015,2
2 116,8
6,4
15,9
141,5
2 128,6
2 292,5
TABLE 2—CAPITALISED COSTS RELATING TO SYNTHETIC OIL ACTIVITIES
The table below summarises the aggregate amount of property, plant and equipment and intangible assets
relating to synthetic oil and production activities, and the aggregate amount of the related depreciation and amortisation.
Synthetic oil—South Africa
(Rand in millions)
2021
2020
2019
Year ended 30 June
Proved properties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Producing wells and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Non-producing wells and equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Unproved properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Capitalised costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accumulated depreciation, amortisation and valuation allowances . . . . . . . . . . .
Net book value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1)
107 786,9
107 136,9
650,0
61,1
107 848,0
(67 677,5)
40 170,5
112 446,4
111 754,1
692,3
122,0
112 568,4
(47 337,2)(1)
65 231,2
110 172,8
109 522,8
650,0
323,0
110 495,8
(35 553,9)
74 941,9
As result of the integrated value chain impairment assessment, management has applied discretion in changing the allocation methodology
for impairments. This resulted in the correction of the 2020 accumulated depreciation, amortisation and valuation allowances from
R47,3 billion to R45,1 billion in the 2021 financial year, which is immaterial.
TABLE 3—RESULTS OF OPERATIONS FOR SYNTHETIC OIL ACTIVITIES
The results of operations for synthetic oil activities are summarised in the table below.
Synthetic oil—South Africa
(Rand in millions)
2021
2020
2019
Year ended 30 June
Sales to unaffiliated parties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Transfers to affiliated parties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Production costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Foreign currency translation gains/(losses) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exploration expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Depreciation, amortisation and valuation provisions . . . . . . . . . . . . . . . . . . . . . . . .
Operating (loss)/profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Results of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1)
—
41 307,2
41 307,2
(27 640,6)
2 098,4
(40,3)
(23 729,3)
(8 004,6)
2 294,4
(5 710,2)
—
39 062,1
39 062,1
(23 518,3)
(1 618,8)
(25,8)
(14 835,7)(1)
(936,5)
316,2
(620,3)
—
48 961,9
48 961,9
(23 886,4)
(135,4)
(41,0)
(6 804,9)
18 094,2
(2 722,7)
15 371,5
As result of the integrated value chain impairment assessment, management has applied discretion in changing the allocation methodology
for impairments. This resulted in the correction of the 2020 accumulated depreciation, amortisation and valuation allowances from
R14,8 billion to R12,6 billion in the 2021 financial year, which is immaterial.
G-8