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The Middle East was central to French major Total’s output fortunes in 2015, for better and for worse. Abu Dhabi’s Adco provided 80% of oil output gains, but for gas the Yemen war more than canceled out gains elsewhere.
French major Total’s global hydrocarbons production in 2015 increased by 9.4% to 2.35mn boe/d: oil output was up 19.6% at 1.237mn b/d, but the firm’s net gas production edged lower with 300mn cfd losses from the Yemen output more than canceling out gains elsewhere (see tables for full data).
Total’s overall output now stands at the highest level since 2010, whilst 2015’s 9.4% growth rate is the first time since 2010 that the French major has increased production: 10 years ago it was 2.49mn b/d, 140,000bls above current output. (CONTINUED - 1082 WORDS)
DATA INSIDE THIS ARTICLE
|chart||ADCO Expiry, Renewal Key To Total's Mena Oil Output Fortune's ('000 B/D)|
|chart||....While Gas Output (Mn Cfd) Has Been Whacked Twice In Five Years By Wars In Syria (From 2011) And Yemen (From Late 2014)|
|table||Net Total Production: Liquids (‘000 B/D)... Gas (Mn Cfd)... Overall ('000 Boe/D)|