2018 Offshore Technology Yearbook

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2018 OFFSHORE TECHNOLOGY YEARBOOK | KEY PLAYERS 22 | December 2017 | is expected to start up in 2022. Phase 2 will add another processing platform to the field center, bringing total processing capacity to 660 Mboe/d, and development of Avaldsnes, Kvitsøy and Geitun- gen satellite areas. Statoil plans to begin a drilling campaign on the Aasta Hansteen gas field in the Norwegian Sea in late 2017 or early 2018. The estimated recoverable reserves are 1,660 Bscf (47 Bscm) of gas. Total • Ranked No. 30 on Fortune's Global 500 list • Acquired Maersk Oil & Gas Total is the fourth largest oil and gas company in the world, operating in more than 130 countries with 98,000 employees. It produces 2.45 MMboe/d and plans to add more than 700 Mboe/d by 2020. The company's adjusted net income in the first half of 2017 was $5 billion, up 32% from the same period in 2016. Adjusted net operating income from E&P was $2.74 billion, up from $1.43 billion in first-half 2016. In August, Total announced its 100% acqui- sition of E&P company Maersk Oil & Gas, a wholly owned subsidiary of A.P. Møller–Maersk, expected to close in first-quarter 2018 with an effective date of July 1, 2017. Through the acqui- sition, Total has gained about 1 Bboe of 2P/2C reserves (85% of which are in OECD countries); 160 Mboe/d of additional production in 2018, which is estimated to grow to more than 200 Mboe/d by the early 2020s; and operational, com- mercial and financial synergies that total more than $400 million annually. Offshore Republic of the Congo, Total started production this year from the Moho Nord project on the Moho Bilondo license. Operator of the proj- ect, Total is using both a floating production unit and a tension-leg platform to produce the field, totaling about 100 Mbbl/d in production. Total's ultradeepwater project Kaombo offshore Angola is expected to produce first oil in 2018 with an esti- mated combined oil production capacity of 230 Mbbl/d. The project will develop six fields in Block 32. Offshore Nigeria, the development of Total's Egina Field, launched in 2013, is underway; first oil is expected in 2018 with output reaching 200 Mbbl/d at plateau. Total also holds a 30% interest in the INPEX-op- erated Ichthys LNG project offshore Australia, expected to start up in first-half 2018. In deepwater Gulf of Mexico, Total has entered into an agreement to participate in seven pros- pects across 16 blocks in the Wil- cox and Norphlet plays. Total's participation in these Chevron- operated prospects will be between 25% and 40%. The company has started production in the Edradour and Glenlivet gas and conden- sate fields offshore U.K. The fields will add up to 56 Mboe/d of production capacity. Addi- tionally, Total has signed a 20-year contract to develop and produce from Phase 11 of the South Pars gas field, the world's largest gas field, in partnership with China's CNPC and NIOC subsidiary Petropars. n A tension-leg platform in Moho Nord offshore Demo- cratic Republic of the Congo is shown at dusk. (Photo by Mal- fere Damien, courtesy of Total)

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