A must-attend event for energy companies, the World Petroleum Congress (WPC) is taking place in Moscow right now. Businesses and government representatives from around the world are meeting through today to discuss Responsibly Energizing a Growing World, the theme of the event. This issue is central to our concerns as one of the world’s foremost international oil companies.
A number of Total executives are taking part in the WPC. On June 17, Yves-Louis Darricarrère, President, Upstream was a panelist at the session on new frontiers in conventional and unconventional oil and gas. He reminded participants that the main issue facing the industry is not whether there are sufficient resources, but whether they can be developed fast enough to keep pace with rising global demand. Disruptive technologies will be needed to produce these resources, while at the same time complying with increasingly stringent safety and environmental requirements and keeping a tight rein on costs. For Mr. Darricarrère, “effectively reducing exploration and production costs is a the key challenge that the oil industry as a whole will have to work together to meet in the years ahead.”