As a broad energy company that produces and markets fuels, natural gas and electricity, we are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. 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 daily commitment to oil and gas exploration and production. In 2019, our teams produced 3 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.
In addition, as part of our ambition 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 around 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, 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.
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 strive to provide 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.