Occidental Petroleum 2008 Annual Report Download - page 31
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in 2007.
DD&A increased in 2008, compared to 2007, due to the increase in sales volumes, mainly from the Dolphin Project, and higher
DD&A rates caused by the cost of new proved reserve additions being higher than the existing average rates, especially in Latin America and
the Middle East/North Africa. The 2008 amount also included a charge of $42 million for domestic asset impairments.
DD&A increased in 2007, compared to 2006, due to increased sales volumes, mainly from the Dolphin Project, and higher costs of
new proved reserve additions resulting in a higher DD&A rate.
The increase in taxes other than on income in 2008, compared to 2007, reflects higher production taxes resulting from higher net
sales as well as an increase in ad valorem taxes due to increases in oil and gas property values.
22
Exploration expense decreased in 2008, compared to 2007, due to decreases in Colombia and Middle East/North Africa. The 2007