Company Overview: Total S.A.
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In the Upstream, by the end of 1999, Total's hydrocarbon reserves rose to 10.5 billion barrels of oil equivalent, representing nearly 14 years of production at the current rate of 2.1 million barrels per day. The Group has delivered rapid growth in terms of both production and new reserves additions, and with Total's participation in major projects with low technical costs - particularly on some very promising deep-offshore permits - the stage is set for further steady growth. The Group's asset portfolio is well balanced between the OECD zone and emerging countries. The three main production zones are the North Sea, Africa and the Middle East, with remaining output shared between the Americas and Southeast Asia.
In the Downstream segment, Total has refining capacity of about 2.6 million barrels per day from a network of efficient, well-located refineries. Considerable progress has already been made in bringing break-even points down to very low levels; Total expects that future synergies linked to the two successive mergers will enable it to continue to improve competitiveness.
Stock Exchang: NYSE
Stock Ticker: TOT