Highlights 3 million boe/d output expected by 2020 Fabrication yards still massively underutilized Plans North Sea sales to ‘high grade’ portfolio London — Total expects its deepwater oil and gas production to grow by more than 40% to around 500,000 b/d of oil equivalent by 2025 on the back of new projects offshore Brazil and in the Gulf of Mexico, and sees supportive market conditions for approving new developments generally, it said Tuesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now In a strategy presentation broadcast from New York, Total said it expected upstream production growth of 6%-7% annually in 2018-2020, taking its output to over 3 million boe/d, after a more modest 4.6% growth last year. From 2020, it expects production to grow by 3%-4% annually, chief financial officer Patrick de La Chevardiere said. Around 20% of the growth up to 2020, or 600,000 […]