Editorial
Energy is an essential resource that needs to be both accessible and sustainable. In 2022, at a time of severe pressure on oil and gas prices due to the geopolitical environment, TotalEnergies went to great lengths to meet the challenge of the energy transition while ensuring that reliable energy would be available in the short term at the lowest possible cost.
Exploration & Production is instrumental to TotalEnergies’ ambition, its transformation into a multi-energy Company and its path towards net zero emissions. E&P’s strategy centers on three objectives: producing more energy that is cleaner and accessible to as many people as possible, to contribute to the planet’s sustainable development.
Our goal is therefore to maintain our production of oil and to increase by 40% our production of LNG, a transition energy, between now and 2030.
At the same time, TotalEnergies has pledged to reduce Scope 1+2 emissions at our operated facilities to 38 million tons (Mt) of CO2e by 2025 and to 25-30 Mt by 2030, and to achieve a 50% reduction in methane emissions from 2020 levels by 2025 and an 80% reduction by 2030.
To fulfill those ambitions, E&P has launched an ambitious campaign to eliminate routine flaring by 2030, improve the energy efficiency of our installations and carry out emission reduction and carbon capture and storage projects. In addition, E&P is developing Nature Based Solutions initiatives for storing 5 Mt/year of CO2 by 2030, in an effort to offset the Company’s residual operated Scope 1+2 emissions, as well as Carbon Capture & Storage (CCS) projects for its customers, designed to create more than 10 Mt of total carbon storage capacity annually by 2030.
Our third objective is Sustainability. E&P takes action every day to protect the environment, be a model employer and responsible operator and share created value with its stakeholders, in accordance with the UN Sustainable Development Goals.
Our environment, lifestyles and energy needs are changing. And Exploration & Production is reinventing itself as well.
This brochure is designed to provide an overview of what we’re doing at E&P. It offers a snapshot of our ambition, our strategy, our projects and our achievements in 2022.
Tragically, we had a fatal accident in Argentina in 2022. Safety is a value that must never be compromised. A specific action plan was adopted based on an analysis of the accident’s cause, and compliance with the prohibition on solitary workers at isolated sites is being verified more rigorously.
