September 2022 - Strategy and Outlook
Short-cycle investment capturing high prices
Te
TotalEnergies
FPSO
PAZFLOR
Angola Block 17*
Infills and tie-backs already contributing
→Block 17 CFFO
•
2022: >2 B$ at 90 $/b
Production
kboe/d (100%)
400
200
Infills & tie-backs
2020 2021 2022 2023
2024 2025 2026
• 2023-26: ~1.5 B$/y at 80 $/b, > 1 B$/y at 50 $/b
→3 FIDs in 2022: CLOV Phases 2 & 3, Begonia
→ Controlling costs through rig contracts extensions
and subsea equipment standardization
Investing to extend life of 4 FPSOS
→ License extension to 2045 signed in 2019
→ Carbon Footprint Reduction initiatives (CFR):
Maintaining GHG <18 kgCO₂e/boe despite decline
Capex
M$ (TotalEnergies share)
600
400
لاس
0
2020
2021
2022 2023
2024 2025
2026
200
Oil
* includes Block 17/92 (Total Energies 38%, op.) and Block 17/06 (Total Energies 30%, op.)
Short-cycle projects
30+ short-cycle projects
to be mobilized over
2022-24, starting-up
2023-26
→ ~1.5 Bboe resources
→ 75% oil
→ Average Capex < 4 $/boe
→ > +1 B$/y from 2024
at 50 $/b
September 2022 - Strategy and Outlook 28View entire presentation