Total’s Exploration and Production provides expertise in over 50 countries and regions to explore, develop, and produce oil and gas. At the moment, oil remains the most accessible energy to power the world’s increasing demand and delivering economically sustainable natural gas supplies to high-growth demand markets, such as China, is a strategic priority of Total.
Credible Partner of Chinese NOCs
In the 1980s, Total entered China’s oil and gas exploration and production market as the first international energy company to engage in offshore initiatives. Over the last four decades, Total has established a trusting, close, and productive partnership with the country. Offshore, we have had a presence in Beibu Gulf, Bohai Bay, and the South China Sea. Onshore, we have rolled out a series of projects in the Tarim Basin and Ordos Basin.
In 2006, Total signed a Production Sharing Contract (PSC) with CNPC for the evaluation, development, and production of natural gas resources in the South Sulige gas field. CNPC (51%) will operate the project with Total (49%) providing project management and technical support and expertise. The total production forecast of the project is approximately 440 million barrels of oil equivalent by 2036 (over the term of the contract).
Total is not simply in China – we are also in step with China on a global level. In Russia, Kazakhstan, Nigeria, Uganda, United Arab Emirates, Iraq, and Brazil, Total has a close collaboration with Chinese partners in various projects.
OUR BUSINESS PARTNERS
Deep Offshore Development
China National Offshore Oil Corporation, the largest offshore oil and gas producer in China, is a state-owned maga company operating directly under the control of the State-owned Assets Supervision and Administration Commission of the State Council of the People’s Republic of China.
Headquartered in Beijing, CNOOC was founded in 1982. After more than 30 years of reform and development, it has become an international energy company with prominent core business, a complete industrial chain and business spreading across 40 countries and regions. The five main business segments of the Company are oil & gas exploration and development, engineering and technical services, refining and marketing, natural gas and power generation and financial services.
On November 1, 2017, CNOOC changed its Chinese registration name while transforming from an enterprise owned by the whole people into Company Limited (wholly state-owned).
In 2017, the Company was ranked 31th in Petroleum Intelligence Weekly (PIW)’s World’s Top 50 Oil Companies. In 2018, the Company was ranked 87th in Fortune Global 500. By the end of 2017, Moody’s and Standard & Poor’s rated the Company with credit ratings of A1 and A+.
Total E&P Chine (TEPC)
Total E&P Chine is a wholly owned affiliate working with CNPC to develop the South Sulige tight gas field in the Ordos Basin. CNPC (51%) will operate the field, with TEPC (49%) providing project management services and technical support and expertise.
We are also cooperating with CNPC on the Halfaya oil field in Iraq and the Bokhtar PSC in Tajikistan.
Expanding Our Partnership
We are expanding our work to develop unconventional energy resources in China. Together with Sinopec, we are exploring and appraising the shale gas potential of the Xuancheng license. We are also conducting preliminary reviews of other shale gas projects, and looking at branching out into unconventional oil development in the future.
We are partners in the Northern Lights oil sands project in Canada and a natural gas project in Yemen.
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