The remaining budget will be allocated toward emerging businesses such as power generation, and general corporate purposes.

Of the $US4.4 billion allocated to exploration and production, about $US1.1 billion will go to the Asia-Pacific region with Bayu-Undan in the Timor Sea taking the majority of these funds. About $US1.1 billion will go to projects in the US and Latin America while $US950 million will go to Europe, Russia and the Caspian Sea. Alaska will get $US640 million.

The budget for refining and marketing will be $US1.2 billion, with emerging business getting $US200 million.