31JAN2019 - NEWS - French oil major Total SA plans its biggest exploration campaign for years in 2019

French oil major Total SA is launching its biggest exploration campaign for years in 2019 as part of a turnaround plan that is ditching the company’s focus on risky long-shots in favor of areas known to contain commercial levels of oil or gas. Total SA aims to drill 23 wells this year. The company’s new game plan is to concentrate efforts on emerging and mature basins, which offer a greater chance of exploration success. It is moving away from its higher-risk, higher-reward strategy of targeting “frontier” areas that have not been commercially exploited, an approach which yielded scant rewards and saw outlier Total fall behind rivals.

Published by Editor - www.Livebunkers.com at 31-Jan-2019 06:18:40 [UTC] , contact editor at editor@livebunkers.com