BAKU, Azerbaijan, February 9. TotalEnergies' hydrocarbon production in 4Q2023 averaged 2.462 kboe/d, Trend reports.
According to the company's latest report, this marked a decline of 12 percent, compared to 2.812 kboe/d in 4Q2022.
In general, the quarter saw a positive impact from the growth in LNG production, which partially offset the effects of the disposal of Canadian oil sands assets during this period, the company noted.
Furthermore, TotalEnergies' hydrocarbon production for the whole year amounted to 2.483 kboe/d - down by 10 percent year-on-year (2.765 kboe/d in 2022)
At the same time, TotalEnergies' hydrocarbon production (excluding Novatek) reached 2.483 kboe/d in 2023, marking a 2-percent year-on-year increase (2,437 kboe/d in 2022).
As such, this comprised of:
- +4 percent attributable to start-ups and ramp-ups, encompassing projects such as Johan Sverdrup Phase 2 in Norway, Mero 1 in Brazil, Ikike in Nigeria, Block 10 in Oman, and Absheron in Azerbaijan.
- +1 percent resulting from enhanced security conditions in Nigeria and Libya.
- +1 percent due to reduced planned maintenance and unplanned shutdowns, including at the Kashagan field in Kazakhstan.
- -1 percent portfolio impact linked to the conclusion of Bongkot operating licenses in Thailand, the exit from Termokarstovoye in Russia, disposal of Canadian oil sands assets, and effective withdrawal from Myanmar. This is partially offset by entries into producing fields like SARB Umm Lulu in the United Arab Emirates, Sépia and Atapu in Brazil, Ratawi in Iraq, and increased participation in the Waha concessionsin Libya.
- -3 percent attributed to natural declines in field production.
Meanwhile, TotalEnergies' adjusted net income amounted to $23.2 billion in 2023. This marked a decrease of 36 percent year-on-year ($36.1 billion in 2022).