Arab Today, arab today total boosts exploration production drive
Last Updated : GMT 06:23:09
Arab Today, arab today
Arab Today, arab today

Total boosts exploration, production drive

Arab Today, arab today

Arab Today, arab today Total boosts exploration, production drive

Paris - AFP

The development of new oil reserves and a more aggressive exploration strategy will enable French oil group Total to meet its targets for boosting production of oil and gas, chief executive Christophe de Margerie said on Friday. Speaking to a general meeting of shareholders, he said that Total was developing new reserves with capacity of 800,000 barrels of oil equivalent per day in extra output. This would help the group achieve the target for hydrocarbon production of 3.0 million barrels per day by 2017, compared with 2.3 million barrels in 2012, and to increase production by 3.0 percent on average from 2011-2015. Margerie told a general meeting of shareholders: All this gives us visibility in terms of production. The three million barrels per day are now off the starting blocks. There is no reason for not achieving this.\" However he said that as happened last year when an accident occurred in the form of a big gas leak on the North Sea Elgin platform, incidents could arise but they should not obstruct the intention to increase output and investments. Margerie, referring to a sudden probe by European Union officials at several companies in the oil sector on Tuesday on suspicion of manipulating prices, said that Total was not involved. He was \"very surprised\" that manipulation could have been carried out, given his knowledge of the ethical code of conduct in companies mentioned. He said that the group was accelerating its exploration strategy, a critical issue for oil companies since it determines long-term growth of reserves of oil and gas, and therefore future production. \"It is clear that in terms of exploration, we have decided to move into a higher gear, to take on more (exploration) permits and to be more audacious.\" This had resulted in four discoveries last year, he said. \"We have acquired a large number of blocs recently,\" he said, including about ten this week in Brazil. Total has strong faith in that region, where it had been absent until now. This was a reference to a huge tender process for exploration in Brazil, mostly off-shore, which was highly successful. Total was also making great efforts to raise its competitive position in the refining-chemical sector, notably in France where last year it had invested 1.0 billion euros to modernise facilities and adapt to demand. This was a reference to reducing the overall production of fuels but increasing further the production of diesel.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today total boosts exploration production drive Arab Today, arab today total boosts exploration production drive

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today total boosts exploration production drive Arab Today, arab today total boosts exploration production drive

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday