BAKU, Azerbaijan, April 27. TotalEnergies reported a hydrocarbon production of 2,461 thousand barrels of oil equivalent per day (kboe/d) in 1Q2024, Trend reports.
According to the company, the quarter-over-quarter performance was sustained due to LNG production growth and successful launches at Mero 2 in Brazil and Akpo West in Nigeria.
However, this growth was somewhat tempered by the divestment of Canadian oil sands assets, a strategic move effectively executed during the quarter.
Thus, TotalEnergies' hydrocarbon output in the reporting period decreased by 2 percent year-on-year (2,524 kboe/d in 1Q2023). In 4Q2023, the company's production totaled 2,462 kboe/d.
At the same time, as the company noted, a 2-percent surge in hydrocarbon output was attributed to the successful ramp-up of various projects, notably Mero 2 in Brazil, Block 10 in Oman, Tommeliten Alpha in Norway, and Absheron in Azerbaijan.
A further 1-percent boost attributable to portfolio optimization efforts, highlighted by the entry into producing fields such as SARB Umm Lulu in the UAE, albeit partially offset by the conclusion of Bongkot operating licenses in Thailand. However, a marginal decline of 2.5 percent was observed due to the natural depletion of fields, a typical phenomenon in the hydrocarbon industry.