BAKU, Azerbaijan, Feb.9
By Leman Zeynalova – Trend:
French Total’s hydrocarbon production was 2,841 thousand barrels of oil equivalent per day (kboe/d) in the fourth quarter 2020, a decrease of 9 percent year-on-year, Trend reports citing the company.
The decrease comprised of: -5 percent due to compliance with OPEC+ quotas, notably in Nigeria, the United Arab Emirates and Kazakhstan, as well as voluntary reductions in Canada and disruptions in Libya; -1 percent due to portfolio effect, notably linked to the sale of assets in the United Kingdom and Block CA1 in Brunei; +3 percent due to the start-up and ramp-up of new projects, notably North Russkoye in Russia, Tempa Rossa in Italy, Johan Sverdrup in Norway, Iara in Brazil and Culzean in the United Kingdom; -3 percent due to the natural decline of fields; -3 percent due to maintenance and unplanned outages, notably in Norway.
As for the full 2020, hydrocarbon production was 2,871 kboe/d, a decrease of 5 percent compared to the previous year.
The decrease comprised of: -5 percent due to compliance with OPEC+ quotas, notably in Nigeria, the United Arab Emirates and Kazakhstan, as well as voluntary reductions in Canada and disruptions in Libya; +5 percent due to the ramp-up of recently started projects, notably Culzean in the United Kingdom, Johan Sverdrup in Norway, Iara in Brazil, Tempa Rossa in Italy and North Russkoye in Russia; -3 percent due to the natural decline of fields; -2 percent due to maintenance, and unplanned outages, notably in Norway.
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