Total’s exploration performance has lagged behind that of its peers over the last 3 years. In September 2015, it revealed a new exploration strategy focused on delivering top quartile results. The refreshed strategy recognised the need to balance material volume additions through high-impact exploration, with lower-risk drilling. It will now invest 25% of its annual exploration budget on frontier prospects, down from 40% in previous years. A further 25% will be directed towards near-field exploration around existing discoveries, with 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.
This report includes 2 file(s)
Total oil and gas exploration summary PDF - 579.04 KB 17 Pages, 6 Tables, 18 Figures
Total.xls XLS - 653.50 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 2016
Total oil and gas exploration summary
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