As a major energy player and an integrated operator across the entire oil and gas value chain, we aim to produce affordable, reliable and clean energy. To put this ambition into practice and become the responsible energy major in today's complex environment, we rely on our key strengths, working every day to develop a diversified portfolio and focusing particularly on our expertise in deep offshore production and liquefied natural gas (LNG).
A global, diversified and balanced oil and gas portfolio
At Total, around 13,000 people in some 50 countries help supply our customers with the energy they need through their commitment every day to oil and gas exploration and production. In 2018, our teams produced 2.8 million barrels of oil equivalent per day.
We operate in all the main oil and gas production regions, from Asia to Africa, Russia, the Middle East, the United States and the North Sea. We leverage cutting-edge technologies for the complex oil and gas projects – onshore, offshore, conventional and unconventional – that we run all over the world. Our portfolio is balanced and diverse, with our expertise clearly demonstrated by the start-up of 14 major projects and the launch of more than ten new developments all over the world in 2017 and 2018.
In addition, as part of our aim to prepare the future of energy, we are renewing our portfolio by developing our exploration strategy. Today, we have a solid, diversified portfolio of proven and probable reserves1 representing 20 years of reserve life at constant production levels. To steer exploration operations toward the most promising areas, we capitalize on 3D and 4D modeling technologies, for example, which help us assess the potential of reservoirs as accurately as possible and more effectively plan ahead for seismic risks.
1Proven reserves of oil and gas are reserves that have been estimated with reasonable certainty, since fields have already been discovered and their potential has been assessed. Probable reserves are estimated based on proven reserves and the probability of finding more elsewhere. Proven and probable reserves correspond to the sum of proven reserves and probable reserves.
Creating Value for Our Stakeholders in All Our Host Countries
As an oil and gas major, we have a responsibility toward our host countries and the communities that live near our facilities. That is why we engage in dialogue with our stakeholders well before our projects are launched, and take a comprehensive and integrated approach to local development in our operations.
Find out more about our community commitment: Harnessing our community commitment to create value.
Expertise across the entire LNG chain
Gas is expected to overtake oil in the global energy mix by 2040, coming in far ahead of coal1. Demand for liquefied natural gas (LNG) will be particularly high, estimated at 5% per year for the 2018-2030 period. LNG offers a number of advantages that position it as an energy for the future. A flexible resource, it can be transported by ship over long distances from liquefaction plants to regasification terminals in order to supply areas located far away from production centers.
We are pioneers in LNG, which we have been producing for more than 40 years, and are now a world leader in this resource. In fact, it is a key part of our strategy. We operate across the entire LNG value chain, from production and processing to transportation and distribution, and, thanks to our liquefaction plants and regasification terminals all over the world, we are able to supply all consumption areas.
To develop our portfolio, we invest in all LNG production areas and main markets. Our many supply sources and delivery points around the world mean that we can guarantee our customers flexibility and maximum competitiveness.
Further down the supply chain, to bring LNG to new markets, we are prepared to invest where needed in new regasification terminals and power plants. We are currently working on floating storage regasification unit (FSRU) projects, which provide quick, cost-effective and flexible access to LNG. In addition, we are steadily increasing our investments in the marketing of natural gas through an acquisition strategy targeting providers in the Residential (Total Direct Energie) and Transportation (PitPoint B.V.) sectors.
Lastly, we are committed to providing cleaner energy. For example, we are building LNG tankers with engines that are partly fueled by the LNG they transport.
1According to the IEA's Sustainable Development scenario.
Yamal LNG, the Gas That Came in From the Cold
Yamal LNG is one of the most complex LNG projects in the world, as well as one of the most competitive, as it leverages the immense onshore gas resources of Russia's Yamal Peninsula.
Located above the polar circle in the estuary of the Ob River, Yamal LNG aims to tap natural gas reserves totaling more than 4 billion barrels of oil equivalent to supply markets in Europe and Asia.
Long-Standing expertise in deep offshore
Moho Nord: An Industrial and Human Challenge in the Congo
Launched in March 2017, this deep offshore project is the largest oil development ever undertaken in the Republic of the Congo. It has a production capacity of 140,000 barrels of oil per day, tapping into deposits located in water depths of 450 to 1,200 meters. Designed to have a minimal impact on the environment, the Moho Nord project is also important from a human point of view, as it aims to support local industrial players involved in the development.