Christophe de Margerie's Keynote presentation at this year's Oil & Money Conference, 2013

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Total's chairman and CEO, Christophe de Margerie, presents his keynote at this year's Oil & Money Conference. …

Total's chairman and CEO, Christophe de Margerie, presents his keynote at this year's Oil & Money Conference.

He discusses the investment and technologies needed in order to meet oil demand. View the full presentation here.

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  • 1. A REVOLUTION IN PROGRESS Keynote address by Christophe de Margerie Total Chairman & CEO Oil & Money– Sept. 2013
  • 2. Investments and technology needed to meet oil demand New supply by technology Oil supply-demand Mb/d Oil demand +0.6% / year 100 100 Tight oil Extra heavy oil ~55 Mb/d Natural decline of fields ~4-5%/y on average 50 Deep offshore Conventional (including EOR) 0 Spare capacity 4% 2010 5-6% 2015 4% 2020 2025 2030 Significant investments required to satisfy demand Oil&Money-Oct.1st,2013 2
  • 3. Non conventional hydrocarbon resources largely extend the life time for oil and gas Liquids Global resources ~2,350 Gb (w/o oil shale) Gas ~2,900 Gboe (w/o hydrates) Large upwards revaluation of unconventional potential in the recent past Hydrates Oil shale 100 140 Unconventional resources Gboe EHO 1600 Shale Gas Tight / Shale Oil CBM 800 YTF 35 Shale gas 1200 80 Recovery increase CBM Tight / shale oil 70 400 50 0 4 yrs beforeToday's view Well defined resources Years of production at current pace Already produced Peak oil no longer an issue: liquid production expected to reach a plateau slightly below 100M b/d by 2025 Oil&Money-Oct.1st,2013 3
  • 4. 800 700 Capex large increase over the period 2004 – 2012 is partly due to cost inflation; production growth has been slow Oil Production 600 800 700 600 B$ & Mboepd Gas Production Capex (activity driven increase) 500 500 Capex (inflation driven increase) 400 400 300 300 200 200 56 Mboepd 100 40 Mboepd 100 86 Mbpd 75 Mbpd 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 CAGR 2000-12** 15,6% 8,6% Oil & gas production 1,8% 0,5% Oil 1,2% 0,3% Gas 2,8% 2012 CAGR 2008-12*** E&P Capex 2011 0,8% * CERA Upstream Capital Cost Index, 2000 (base 100) **Computed using 2000 as the reference year ***Computed using 2008 as the reference year Oil&Money-Oct.1st,2013 4