Total Sees Global Output Capacities Up 45 MMbpd by 2025-30
PARIS - Total SA expects global hydrocarbon production capacities to increase by 45 million barrels a day by 2025-30, notably in oil sands and deep offshore fields, French daily Le Monde reports on a blog column, citing two Total senior executives.
According to Total's Helle Kristoffersen and Guillaume Chalmin, cited by Le Monde's blog, new oil production capacities will be at new oil fields as well as existing ones already in production but which could deliver more through new extraction means.
Part of the additional 45 million barrels per day capacities would come from oil sands providing 7 mb/d, Iraqi oil fields with 5 mb/d, Brazil's very deep offshore fields providing 3 to 4 mb/d, compact reservoirs in Northern America such as shale oil fields with 2 to 4 mb/d and fields being explored in Africa, Guiana, and the Arctic North, representing a potential of 2 to 5 mb/d of additional oil production, according to Le Monde's blog. It noted that Total's executives declined to further elaborate on the rest of the additional output forecast.
In December, Total's chairman and chief executive Christophe de Margerie warned that global oil production could peak by 2020 or so, at 95 million barrels a day.
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