France's Total on Track with $19 Billion in Investments This Year

---

Researched by Industrial Info Resources (Sugar Land, Texas)--Amid high oil prices, Total S.A. (NYSE:TOT) (Paris) plans to ramp up production, the company announced on September 10 during a midyear review presentation. The "increased oil price sustains development of new projects," according to a company statement. Total is on track with $19 billion in investments this year, CEO Christophe de Margerie said.

Total's Growth Strategy

• Developing position in heavy oil
• Adapting downstream and in petrochemicals in Europe
• Strengthening LNG leadership
• Accelerating research and development of carbon dioxide, energy efficiency and high-performance products
• Launching deep offshore developments in West Africa
• Growing refining and petrochemicals sectors in resource-rich countries
• Creating strategic partnerships with national oil companies

The company said in its presentation that the growth in demand for oil in Asia, the Middle East and Latin America is substantially higher than the decrease in demand in countries that are members of the Organisation for Economic Co-operation and Development (OECD). The lower growth in demand from OECD countries will still contribute to the world's energy balance, Total said.

Last month, the company also released its second-quarter earnings results, posting a net income of $5.8 billion that was largely attributed to the high price of oil. As part of our Industrial Project Database, Industrial Info is tracking 68 active projects that Total is involved in across the world. The projects range from a $2 million turnaround in Port Arthur, Texas, to a $4.3 billion grassroot bitumen upgrader in Fort McMurray, Alberta.

According to Total, the company's next wave of growth projects is on track. Five projects -- Akpo, Yemen LNG, Qatargas II, Tahiti and Tombua Landana -- that are scheduled to start up in 2009 have a combined capacity of 970,000 barrels of oil equivalent per day.

View Plant Profile - 1018176 1066565
View Project Report - 01011999 56000927

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services.