Total plans to produce 15% of oil, gas with Russian projects in future
MOSCOW. March 14 (Interfax) - French oil and gas company Total figures it will in the future be producing about 15% of its oil and gas with the help of Russian projects, Pierre Nergararyan, who until this January been Total's chief for Russia, told the Gazprom journal.
"We are now producing in Russia around 500,000 tonnes of hydrocarbons. In the near future, we plan to increase that figure to somewhere around 5 million tonnes, and later on to 20 million tonnes of oil equivalent per year. Having reached that bar, the proportion of Russian production will reach roughly 15% of Total's overall production of oil and gas," Nergararyan said.
In general, Total reckons to grow hydrocarbon output about 2.5% per year until 2020. To achieve that end, production will rely on such regions as the Middle East, Australia, and Russia, he said. "In the coming ten years, Total's oil and gas production volume will be increasing, and according to our specialists' estimates, the growth rate will be about 2.5% per year - most of all thanks to work in three regions that are new to us and, in particular, Russian projects," he said.
In Russia, Total will focus on its main projects, but is interested in taking part in the scientific study of the Arctic, Nergararyan said. "We are quite interested in conducting joint scientific research work in the Arctic with Russian institutions," he said.
Furthermore, Nergararyan said, Total is keeping with its plan to open its first filling station in Russia this year.
Total is taking part in projects for opening the Shtokman, Kharyaga, and Termokarstovoye deposits, and the Yamal-LNG liquefied natural gas project in Russia. The French company owns 14% of independent gas producer NOVATEK .
