Exploration & Production - At a Glance 2023

Compensating the Company’s residual emissions

CCS projects involve developing industrial processes for capturing, transporting and storing CO₂. Exploration & Production aims to develop new commercial and industrial models for that value chain, and we intend to gradually step up our annual investment in CCS to approximately $300 million, compared to about $100 million in 2022. E&P is already active in several major CCS projects, including Northern Lights in Norway, Aramis in the Netherlands, Bifrost in Denmark, the Northern Endurance Partnership in the United Kingdom and the Bonaparte CCS Assessment partnership in Australia.

The Branch is also developing NBS projects, including a campaign to create a carbon sink on the Batéké Plateau in the Republic of the Congo, designed to sequester an average of 500,000 tons of CO₂ annually for 20 years. In Gabon, TotalEnergies has partnered with Compagnie des Bois du Gabon (CBG) to develop a forward-looking forest management model that combines sustainable wood production, biodiversity conservation and long-term carbon sequestration, while Papua New Guinea affiliate is putting biodiversity and Afforestation/Reforestation at the top of its list of priorities, with the implementation of its Zero Net Deforestation (ZND) policy.