In 2014, TOTAL’s production in South America was 157 kboe / d, representing 7% of the Group’s total production, compared with 166 kboe / d in 2013 and 182 kboe / d in 2012.
In Argentina, where TOTAL has been present since 1978, the Group operated approximately 30% of the country’s gas production in 2014. The Group’s production in 2014 was 75 kboe / d compared with 78 kboe / d in 2013 and 83 kboe / d in 2012. In 2012, the Argentinean government concluded gas price agreements with various producers. Under the terms of these agreements, the Argentinean government guarantees the price of gas for quantities above a fixed production level in exchange for compliance with defined production targets and applicable penalties (i.e., “Deliver or Pay”). In February 2013, TOTAL signed an agreement of this type for a period of five years with retroactive effect from December 1, 2012.
- In Tierra del Fuego, the Group operates the Carina and Aries offshore fields (37.5%). A drilling campaign consisting of two additional wells began in 2014 based on the existing platform. The development of the Vega Pleyade field (37.5%, operator) was launched in October 2013 (production capacity of 350 Mcf / d).
- In the Neuquen basin, TOTAL started a drilling campaign on its mining licenses in 2011 in order to assess their shale gas and shale oil potential. This campaign, which started on the Aguada Pichana licenses (27.3%, operator), was subsequently extended to all of the blocks. The initial results of the production tests on the wells drilled during this campaign were all positive. Two pilot developments intended to test the unconventional production potential at the Aguada Pichana and Rincón la Ceniza (42.5%, operator) Blocks have been launched In Aruba, TOTAL acquired a 35% stake in the offshore Aruba license (14,000 km²) in July 2014. A 3D seismic survey covering 3,250 km² was carried out.
In Bolivia, the Group’s production, primarily gas, was 30 kboe / d in 2014 compared with 28 kboe / d in 2013 and 27 kboe / d in 2012. TOTAL has stakes in seven licenses: three production licenses, San Alberto and San Antonio (15%) and the Tarija Oeste Block XX (41%); two licenses in the development phase, Aquio and Ipati (60%, operator); and two licenses in the exploration phase, Rio Hondo (50%) and Azero (50%, operator of the exploration phase).
- The second development phase of the Itau gas and condensates field located on the Tarija Oeste Block XX started production in January 2014 with a production capacity of 176 Mcf / d.
- Following the discovery of the Incahuasi gas field, located on the Ipati Block, two additional wells were drilled in 2011 and 2013. In April 2013, TOTAL was granted approval by the authorities to start the first development phase of the project, including the connection of three previously drilled wells to a central processing plant with a capacity of 6.5 Mm³ / d. An additional well was drilled in 2014 on the Ipati Block. In mid-2014, TOTAL reduced its participation in Aquio and Ipati from 80% to 60%.
- In 2013, TOTAL acquired a 50% stake in the Azero exploration license in the Andean Piedmont, located west of the Ipati and Aquio Blocks and covering an area of more than 7,800 km². The exploration period started in June 2014.
In Brazil, the Group has stakes in fourteen exploration licenses.
- In 2013, TOTAL acquired a 20% stake in the Libra field, located in Brazil’s offshore Santos basin, the potential of which is currently being assessed. The field is located in the ultra-deep offshore (2,000 m) approximately 170 km off the coast of Rio de Janeiro and covers an area of 1,550 km². The drilling of two wells began in the third quarter of 2014 in the field’s northwest and center zones.
- Following the eleventh bid round organized by the Brazilian authorities in May 2013, TOTAL acquired stakes in ten new exploration licenses. The Group operates five blocks (40%) located in the Foz do Amazonas basin (FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127) and holds an interest in Block CE-M-661 (45%) located in the Ceara basin. TOTAL also holds a 25% stake in three Blocks (ES-M-669, ES-M-671 and ES-M-743) located in the Espirito Santo basin and a stake in the BAR-M-346 Block (50%) located in the Barreirinhas basin. Seismic survey campaigns were completed in 2014 on the Foz do Amazonas and Espirito Santo basins.
- TOTAL also holds stakes in the Xerelete field, which the Group has operated since 2012. This field is primarily located on Block BC-2 (41.2%) and extends into Block BM-C-14 (50%). A well targeting both post-salt and pre-salt horizons was drilled and tested in January 2014.
- On the Gato Do Mato field located in Block BM-S-54 (20%) in the Santos basin, a well was drilled in 2012.
In Colombia, TOTAL has not had any production since the 2012 sale of its TEPMA BV subsidiary, which held a stake in the Cusiana field. Production was 6 kboe / d in 2012.
On the Niscota license (50%), the drilling program commenced in 2009 is ongoing.
In 2013, TOTAL sold its entire share in the Ocensa pipeline while retaining its transport rights. Subsequently, TOTAL signed an agreement in December 2014 to sell part of its transportation rights in the Ocensa pipeline and closing of this transaction occurred in February 2015.
In French Guiana, TOTAL owns a 25% stake in the Guyane Maritime license. This license, located approximately 150 km from the coast in water depths ranging from 200 m to 3,000 m, covers an area of approximately 24,000 km². At year-end 2011, the authorities extended the exploration license until May 31, 2016.
Further to the discovery of Zaedyus, a drilling campaign was conducted from July 2012 to year-end 2013, but was unable to confirm the extension of a reservoir.
In Trinidad and Tobago, TOTAL sold all of its exploration and production interests in 2013. The Group’s production in 2013 was 12 kboe / d and 16 kboe / d in 2012.
In Uruguay, TOTAL holds a 100% stake in three exploration licenses: offshore Block 14, and onshore Blocks B1 and B2.
- In October 2013, TOTAL signed two exploration and production contracts for Blocks B1 and B2 for unconventional plays. These two blocks, which cover a total area of 5,200 km², are primarily located in the Artigas province in the northwestern part of the country.
- In 2012, TOTAL acquired a stake in Block 14, which is located approximately 250 km offshore in water depths ranging from 2,000 m to 3,500 m and covers an area of some 6,700 km². A 3D seismic acquisition of the entire block was completed in early 2014.
In Venezuela, where TOTAL has had operations since 1980, the Group’s production was 52 kboe / d in 2014 compared with 48 kboe / d in 2013 and 50 kboe / d in 2012. TOTAL has equity stakes in PetroCedeno (30.3%), in Yucal Placer (69.5%), and in the offshore exploration Block 4, located in Plataforma Deltana (49%).
The development phase of the southern zone of PetroCedeno continues (86 producing wells were drilled at year-end 2014 compared with 43 wells at year-end 2013), as well as the debottlenecking project for the water separation and treatment facilities. In 2013, the postponement of an additional debottlenecking project combined with a performance study performed on the field led to a revision of PetroCedeno’s reserves.
Pursuant to an amendment to the gas sale contract, a new development phase of the Yucal Placer field was launched in 2012. The field’s production reached 150 Mcf / d in April 2014 following the commissioning of the first clusters and the debottlenecking of the existing gas treatment train.