Our ambition for oil & gas
Per the IEA's Net Zero scenario, hydrocarbons will constitute 50% of global energy needs by 2030, declining to under 20% by 2050. TotalEnergies, an integrated multi-energy company in the oil and gas value chain, strives to meet daily energy needs responsibly and efficiently. Our ambition is to be the responsible energy major, delivering affordable, reliable, cleaner oil and gas to a wider population.
The future of energy for our planet is being shaped by three key challenges, which are the basis for our strategy:
- Meeting the energy needs of a growing world population, set to reach 10 billion people in 2050.
- Fighting global warming, in line with the IEA’s Sustainable Development scenario.
- Meeting stakeholders’ expectations to provide tangible local solutions to economic, human and social development challenges.
Producing oil and gas in a sustainable way also means being able to adapt to evolving requirements and limitations in the industry while capitalizing on the opportunities it offers. Our resilient integrated model has helped us navigate volatile energy markets since 2015, while adapting to industry changes and opportunities.
Oil and gas fields are becoming more complex and less accessible, making resources more and more difficult to find and develop in a sustainable way. We are increasingly able to leverage digital technology to rethink our exploration and production methods, with improved subsurface visualization or methane emissions management for example. The industry is full of diverse and complex challenges, but our Company is constantly evolving to meet them head on.
Central to our ambitions, the Asia-Pacific region boasts the world's most significant LNG consumers and hosts some of the group’s key gas-producing assets. TotalEnergies Exploration & Production Asia Pacific operates across 7 countries in this region: Kazakhstan, China, Brunei, Indonesia, Malaysia, Australia, and PNG. Our portfolio is predominantly composed of gas assets, contributing over 14% to TotalEnergies' gas production and 10% to our overall production.
Australia stands as a pillar for our presence in the region with 2 major LNG producing projects, Gladstone LNG and Ichthys. These ventures located in the Queensland Eastern Australia and offshore Browse Basin of the Northwest shelf collectively account for more than 40% of our regional production.
In China we engage in unconventional tight gas activities, with the South Sulige field in cooperation with PetroChina. Additionally, our presence extends to historical assets such as Kashagan in Kazakhstan, discovered in 1992, and “Maharaja Lela Jamalulalam (MLJ)” in Brunei, discovered in 1989 and producing since 1999, where we have been involved in development and production activities ever since. In Indonesia, we hold an interest in the offshore Sebuku license, which comprises the Ruby gas and condensate field, and in Malaysia we are present through exploration activities, and we have started a partnership on Carbon Capture and Storage
The Kashagan field is one of the largest oil discoveries and a pioneering offshore oil and gas development for Kazakhstan. It is also one of the most complex production fields ever carried out by the petroleum industry due to a combination of safety, engineering, logistics and harsh climate complexities.
Papua LNG Project
Looking forward, one of our most exciting opportunities lie in Papua New Guinea, where we are a key operator and actor. The Papua LNG project will strengthen the position of TotalEnergies in the long term as one of the top LNG players worldwide and more specifically in the Asia Pacific. Papua LNG will help us meet the continuous regional growing gas demand and plays a key role in the energy transition in a region where coal still generates close to half of the electricity. TotalEnergies has adopted a best-in-class approach in the project in term of biodiversity, human development, and carbon footprint optimization to bring a net positive gain for Papua New Guinea.