Offshore Europe: Total sees ‘new potential’ for North Sea investment
ByAllister Thomas
Patrick Pouyanne, CEO of Total, giving the keynote address on day one of Offshore Europe
Energy giant Total has said it sees “new potential for investments” in the North Sea off the back of exploration successes in the UK.
CEO Patrick Pouyanne addressed delegates today at the opening session of Offshore Europe at P&J Live in Aberdeen.
He said, despite the North Sea being perceived as “mature”, the firm has around ten billion dollars of investments planned for the next five years.
Mr Pouyanne referenced new successes like its 175million barrel Glendornach discovery in the West of Shetland last September, as well as the 250million barrel Glengorm discovered in the central North Sea in January, which Total owns a 25% stake in.
