Total Deepwater Expansion

Total Deepwater Expansion

productionDeepwater expansion for Total has now emerged with the scope of new projects.

Total is looking at expanding its production in deepwater by an estimated growth of 40% by 2025 with new projects in offshore Brazilian and Gulf of Mexico waters.

During the presentation in New York, Total is expected to upstream production growth by 6-7% annually between 2018-2020 moving its production to above 3 million bpd, it is a significant and aggressive forecast, last year production growth was between 3-4%.

It was announced about 20% growth up to 2020 or the equivalent of 600,000 bpd has been projected with new projects like the Yamal an Ichthys LNG projects, which are online since December 2017 and in July respectively.

In Canada the Fort Hills oil and sands project stream in January, in Angola Kaombo deep-water oil field, which started production last July.

For the past three years Total has purchased $7.5 billion of Denmark’s Maersk Oil, renewing ADMA concession off the coast of Abu Dhabi. Total can account for nearly 7000,000 bpd for 2020.

The expectation for Total’s Brazilian output could reach 150,000 bpd by 2025. Last January Total finalized a $1.95 billion deal with the operator of Lapa. With Brazil oil field development Total has placed themselves on the forefront of the race.

Total has shown some growing ambitions in the Gulf of Mexico, by participating into numerous discoveries but had a modest production field.

“You can make a very profitable business in deep-water providing you target some giant fields, or you are able to tie back your discoveries to existing infrastructure, and these are the two ways that we want to leverage in the future,” Patrick Pouyanne CEO said.

Total is focusing in three regions for their deep-water projects, Africa, Brazil and the Gulf of Mexico to increase their production to 500,000 bpd by 2025

With projects in Nigeria, Republic of Congo’s and Angola’s it is expected the production should reach 200,000 bpd by 2020

With Brazil it is expected the production should reach 100,000 bpd by 2020 while in the Gulf of Mexico the production should reach 100,00 bpd by 2020

A final investment decision should be made by year-end for the Jack field where Total has a 25% stake, 60% in the North Platte and 35% Anchor fields.

Overall Total strategy to focus production in deep-water has proven to be the right path to success for the next decades.

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