Focus on Low-cost and Low-emission Oil Assets
- Global demand for petroleum products continue to grow.
- New oil projects are needed to meet this demand and to keep prices at an acceptable level.
- In 2024, TotalEnergies produced 1.4 Mb/d of oil, equivalent to its 2019 level, representing around 1.5% of world production.
- Our first responsibility as an oil producer is to reduce to the minimum our emissions. We operate our fields in accordance with strict requirements concerning safety, emissions reduction and environmental impact.
- The cash flow generated by these Oil and Gas activities contributes to financing our investments in renewable energy.
South Sulige Gas Field
- Joint venture between PetroChina (Op. 51%) and TotalEnergies EP China (TEPC, 49%).
- Unconventional project characterized by tight, low-pressure, low permeability reservoirs requiring continuous drilling and fracking (100+ wells/y) and continuoustechnology innovation in order to maximize operational efficiency.
- Achieved a success milestone in 2023 by increasing initial plateau from 3 bcm/y to 4 bcm/y and heading to new high of 4.5 bcm/y in 2027.
- Produced a cumulative total of over 30 bcm (YE 2024).
- Mainly supply Beijing, with minor quantities sold to local market such as Xi’an and Yinchuan.