Total's chairman and CEO, Christophe de Margerie, presents his keynote at this year's Oil & Money Conference. He discusses the investment and technologies needed in order to meet oil demand. View the full presentation here.

1. A REVOLUTION IN PROGRESS
Keynote address by
Christophe de Margerie
Total Chairman & CEO
Oil & Money– Sept. 2013

2. Investments and technology needed to meet oil demand
New supply by technology
Oil supply-demand
Mb/d
Oil demand
+0.6% / year
100
100
Tight oil
Extra heavy oil
~55 Mb/d
Natural decline of fields
~4-5%/y on average
50
Deep offshore
Conventional
(including EOR)
0
Spare
capacity
4%
2010
5-6%
2015
4%
2020
2025
2030
Significant investments required to satisfy demand
Oil&Money-Oct.1st,2013
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3. Non conventional hydrocarbon resources largely
extend the life time for oil and gas
Liquids
Global resources
~2,350 Gb (w/o oil shale)
Gas
~2,900 Gboe (w/o hydrates)
Large upwards revaluation of
unconventional potential in the
recent past
Hydrates
Oil shale
100
140
Unconventional
resources
Gboe
EHO
1600
Shale
Gas
Tight / Shale
Oil
CBM
800
YTF
35
Shale gas
1200
80
Recovery
increase
CBM
Tight / shale oil
70
400
50
0
4 yrs beforeToday's
view
Well defined resources
Years of
production
at current
pace
Already produced
Peak oil no longer an issue: liquid production
expected to reach a plateau slightly below
100M b/d by 2025
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4. 800
700
Capex large increase over the period 2004 –
2012 is partly due to cost inflation; production
growth has been slow
Oil Production
600
800
700
600
B$ & Mboepd
Gas Production
Capex (activity driven increase)
500
500
Capex (inflation driven increase)
400
400
300
300
200
200
56 Mboepd
100
40 Mboepd
100
86 Mbpd
75 Mbpd
0
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
CAGR 2000-12**
15,6%
8,6%
Oil & gas production
1,8%
0,5%
Oil
1,2%
0,3%
Gas
2,8%
2012
CAGR 2008-12***
E&P Capex
2011
0,8%
* CERA Upstream Capital Cost Index, 2000 (base 100) **Computed using 2000 as the reference year ***Computed using 2008 as the reference year
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