BAKU, Azerbaijan, July 25. In the second quarter of 2024, TotalEnergies' hydrocarbon production averaged 2,441 thousand barrels of oil equivalent per day (kboe/d), Trend reports.
According to the company's latest report, this represents a 1-percent decrease from the previous quarter (2,461 kboe/d), primarily attributed to higher planned maintenance activities, particularly in the North Sea.
Of this volume, oil (including bitumen) accounted for 1,318 kb/d, while gas (including condensates and associated NGL) totaled 1,123 kboe/d.
Despite the quarterly decline, hydrocarbon production in 2Q2024 showed a 3-percent increase compared to the same period in 2023 (excluding Canada). This growth is driven by several key factors:
- The commencement and ramp-up of new projects contributed a 2-percent increase. Notable projects include Mero 2 in Brazil, Block 10 in Oman, Tommeliten Alpha and Eldfisk North in Norway, Akpo West in Nigeria, and Absheron in Azerbaijan.
- A 1-percent increase resulted from the entry into producing fields such as Ratawi in Iraq and Dorado in the United States. This was partially offset by the divestment of the Dunga field in Kazakhstan.
- Enhanced operational efficiency and increased availability of production facilities added another 3 percent to the production figures.
- A 3-percent reduction was due to the natural decline of mature fields.
When accounting for the disposal of Canadian oil sands assets, overall production for 2Q2024 was down 1 percent year-on-year. This disposal aligns with TotalEnergies' strategic portfolio adjustments and focus on more sustainable and efficient production assets.