Put our deep offshore and LNG expertise to work for you
The deep seabed is estimated to contain around 30 million barrels of oil and gas. To develop these resources, we are applying the diverse skills set we have acquired over close to 14 years in such areas as understanding pre-salt deposits and preserving marine biodiversity. This expertise has allowed us to become the leading deep offshore operator among the major oil companies with operated production of more than 50,000 barrels per day.
Today, our goal is to leverage this expertise to meet new challenges, including very deep offshore, small remote deposits, difficult oils and long-distance subsea transportation. We are also working to make our projects more economically efficient and to anticipate the effects of aging on our deep offshore facilities.
Pursuing our development across the entire LNG chain
Proven natural gas reserves are estimated at more than 1,000 billion barrels of oil equivalent worldwide. With demand rising by around 2% every year, natural gas is set to reach second place in the world energy mix by 2035.
When natural gas is liquefied, it becomes suitable for long distance transportation. Natural gas achieves a liquid state at -163°C, becoming liquefied natural gas (LNG), which must later be regasified for distribution. LNG is becoming an increasingly important component in a world gas market defined by booming demand, especially in Asia, and would experience average annual growth of nearly 4% over the next 10 to 15 years.
As a pioneer in LNG, we are the industry’s second-largest private operator worldwide, with production of more than 12 million metric tons in 2014. Present across the entire LNG chain – from production to marketing – we have partnerships with ten liquefaction plants and four regasification terminals currently in operation worldwide.
A global, diversified and balanced portfolio
We have a portfolio of 20 projects representing an additional 0.06 million boe per day that are scheduled to come on stream between now and 2019. Deep offshore and LNG will represent 15% and 20%, respectively, of our production by that time. This global project portfolio, comprising a large number of long-plateau assets, is balanced and diversified.
We have acquired a varied set of highly specialized skills over the years. Through our commitment to deep offshore, for example, we have grown our understanding of difficult environments and improved our ability to optimize production.