Total Says 10 Projects to Start in 2017-18, Production to Grow 5% YOY

Total Says 10 Projects to Start in 2017-18, Production to Grow 5% YOY
Total expects 10 projects to start between now and early 2018, the company's E&P President, Arnaud Breuillac, said.

Total expects 10 projects to start between now and early 2018, the company’s E&P President, Arnaud Breuillac, said.

“We still have 10 projects under construction and due to start in 2017 and early 2018, and our production should grow by 5 percent year on year from 2014 to 2020,” Breuillac said at the GE Oil & Gas Conference held in Florence, Italy.

Further commenting on his company’s future plans, Breuillac confirmed that Total’s future direction will respect efforts to limit global warming.

“Our medium term vision is consistent with the idea that we take on board the climate challenge,” he said.

“We are prioritizing gas projects, we have exited from coal and we are growing in the renewable and low carbon businesses. This is in line with our strategy and our mission. It is also consistent with our focus on value generation and profit,” he added.

With regard to oil production, Breuillac highlighted his company’s focus on environmentally responsible projects.

“In today’s challenging production context prioritizing safe, environmentally responsible and competitive oil projects is our way to improve the carbon intensity of our production mix,” he said.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

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Brent Crude Oil : $56.58/BBL 1.32%
Light Crude Oil : $54.45/BBL 1.60%
Natural Gas : $2.62/MMBtu 1.15%
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