Total Thinks of Being UK’s Biggest Oil and Gas Operator

www.uk.total.com

French Total thinks that a tactical investment in the North Sea, as well as some strict cost control, could help them to become the UK’s biggest oil and gas operator. This can all be done within three years.

The managing director of Total Exploration and Production UK, Roland Festor, said that the company’s current strategy is much more aggressive than other companies looking at the North Sea. He also added that growth is being targeted through exploration in its own hubs, rather than through acquisitions.

However, besides just exploration expansion, Total is also looking at other things. One such thing is looking to rein in costs, meaning looking to lower spending limits on a number of fields. Festor also said that the company remains very keen to the idea of continued development, despite the overall reserve decline. He went on to say that the more that they produce, the more they are obsessed with the renewal of their reserves.

Right now Total owns a number of fields in the North Sea. This includes Elgin Franklin, Tormore, Alwyn, and Laggan.

Total is the fifth largest publicly traded integrated international oil and gas company in the world. Right now Total employees more then 96,000 people and operates in more than 130 countries. Total also has exploration and production operations in more than 40 countries. The company is also produces oil, as well as gas, in more than 30 countries around the world. There are almost 540,000 French individual shareholders for the company, making them one of the largest companies in all of France.

For more information visit: www.uk.total.com