Loans to Joint Ventures and Associates
Notes | 31 December 2024 | 31 December 2023 | |
|---|---|---|---|
Current portion of loans to joint ventures and associates | 0 | 3 | |
Non-current portion of loans to joint ventures and associates | 6 | 38 | |
Total | 6 | 41 |
The decrease in 'Non-current portion of loans to joint ventures and associates' results from the acquisition of lease and operating entities related to FPSOs N’Goma, Saxi Batuque and Mondo (refer to note 4.3.30 Business Combinations for further details) and the accompanying change in consolidation method triggered by the completion of the acquisition of shares from Sonangol EP.
The maximum exposure to credit risk at the reporting date is the carrying amount of the loans to joint ventures and associates, taking into account the risk of recoverability. The Company does not hold any collateral as security.