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Total oil and gas exploration summary

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04 July 2018

Total oil and gas exploration summary

Report summary

Total’s portfolio is diversified across different resource themes, with the exception of unconventionals, where it lacks major exposure. A strong presence in LNG is underpinned by exposure to Australian LNG. It also has above-average exposure to deepwater resources relative to its peer group, largely due to a leading position in West Africa. In 2009, Total recognised its exploration program was not delivering material, long-life resource additions, and rolled out a new, bolder strategy followed by a period of acreage reloading. The new strategy is beginning to see results, with exploration achieving double digit returns in 2017, the first time in the last decade. The longer term outlook is also good, where we expect this positive performance to continue.

Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration strategy
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
  • Reserves and resources
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
    • Highly diverse portfolio, hard hit by falling oil prices

Tables and charts

This report includes 24 images and tables including:

  • Executive summary: Image 1
  • Ten year performance summary
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Top 40 discoveries (2008 to 2017)
  • Key organic unconventional plays
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Full-cycle economics
  • SWOT Grid
  • Net active exploration acreage by water depth
  • Net active exploration acreage by country
  • Gross exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Production: Image 1
  • Full cycle value creation by year, incl. unconventionals
  • Exploration returns by by year, incl. unconventionals
  • Costs and development value by resource category
  • Exploration returns by water depth

What's included

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