February 2022 Results and Outlook
Oil: high-grading portfolio
Organic value creation
Reactivating >1 B$ short-cycle Capex
→ 2022 production impact: +50 kboe/d
Block 17 (Angola):
0.3 B$ Capex, +30 kboe/d
Project start-ups and exploration
→ 2022 start-ups: +50 kboe/d
→ Mero 1 (Brazil), Ikike (Nigeria), Russia
→ High-impact exploration
→ 2022: Brazil, Suriname, Namibia
Brazil
From 50 kboe/d in 2021
to 150* kboe/d in 2023
through acquisitions
and start-ups
Portfolio management
Acquisitions: focusing on low cost and
low emission opportunities
→ Brazil
Sépia and Atapu Surplus, Lapa (+10%)
→ Middle East
Ratawi (Iraq), Waha Hess (Libya)
Divestments: monetizing
non-core and mature assets
→ 2020-21: ~2 B$ E&P divested
→ Average cost ~30 $/boe,
GHG >40 kg/boe
2021 1year-RRR* = 123%
2022 outlook
* Reserves Replacement Rate
Rio de Janeiro
11
Te
TotalEnergies
Exploration
C-M-541
Marolo 1Q22
Ubaia 2Q22
2022
2023
2024
2025
Mero
lara-Atapu
Lapa
Sépia
11111
Producing
Under construction
Under study
111
*Company share
February 2022 Results and Outlook 20View entire presentation