Total has a geographically diverse exploration portfolio. It has a large exposure to deepwater, particularly in West Africa, and a portfolio that ranks second only to Shell amongst the Majors. Total’s exploration performance has lagged behind that of its peers and its strategy is now to balance material volume additions through high-impact exploration, with lower-risk drilling. It will invest 25% of its annual exploration budget on frontier prospects, a further 25% in near-field exploration around existing discoveries, and the remaining 50% focused on core and emerging basins.
This report analyses Total’s recent conventional and unconventional exploration performance, and reviews its strategy for future success. It is one of a series reports which evaluates and benchmarks the exploration results of the top 40 exploration companies. It includes analysis of discovered volume, full-cycle value creation and returns, and is accompanied by a detailed excel download.
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Total oil and gas exploration summary PDF - 568.53 KB 18 Pages, 6 Tables, 18 Figures
Total.xls XLS - 654.00 KB
Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.
Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.
Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
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Company report | Aug 2017
Total oil and gas exploration summary
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