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by Jon Mainwaring | Rigzone Staff | Thursday, February 11, 2016

Total CEO: Oil, Gas Industry Must Engage in Climate Change Challenge

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Total CEO Patrick Pouyanne says the energy industry needs to get involved with the issue of climatechange in a positive way after December's COP21 deal.

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The boss of French oil major Total S.A. has told a conference in London that the oil andgas industry must engage with the challenge posed by climate change in a positive way.

Speaking to delegates at International Petroleum Week, Total CEO Patrick Pouyannénoted that there has been little discussion among energy companies about climatechange so far this year in spite of 195 nations signing the COP21 climate change deal inParis only two months ago. He said that while January's Davos gathering of world politicaland business leaders, for example, had little mention of the problem climate change, theissue "is still there".

"But for oil companies it is very important and we should take it into account in ourstrategies," Pouyanné said. "The oil industry still needs to be engaged in this climatechange challenge, and positively."

Pouyanné said the oil and gas industry has a key role to play in helping to tackle climatechange and noted the role that natural gas – the least-polluting of the three main fossilfuels – has to play in the energy mix, and that gas should be prioritized.

"We have the answers because we know the energy business and we have theengineers," he said.

Pouyanné said that Total will expand its investment in renewable energy but alsocautioned that "society will not accept intermittent power".

Pouyanné also talked about the problems facing the oil and gas sector right now due to

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Patrick Pouyanne takes questions from the floor of the International Petroleum Week conference inLondon

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the low oil price, pointing out that volatility was part and parcel of commoditiesbusinesses. He said that if oil and gas businesses continue holding off on the sanction ofmajor projects this will likely lead to a sharp increase in the oil price in a few years' time.

"If we continue like this, we are just preparing the next rebound," he said.

In the meantime, the industry should focus on what it can control, Pouyanné said. Whilebeing mindful of safety, a focus needs to be made on improving operational excellence,reducing costs, using technology effectively and managing its people.

While Pouyanné regards using technology to make North American shale oil commercialat current oil prices as "a waste of time", he pointed out that smart use of technology inlower cost parts of the world can work well. For example, the Total-operated deepwaterCLOV project – which aims to liberate some 505 million barrels of oil offshore Angola viaan FPSO (floating production, storage and offloading vessel) over 20 years – has a costof just $25-to-$30 per barrel, he noted.

The Total CEO also referenced the production start-up of the Laggan-Tormore gasand condensate fields, in the West of Shetland area of the North Sea. These fields, afterhaving been delayed several times, will produce up to 90,000 barrels of oil equivalent perday.


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A former engineer, Jon is an award-winning editor who has covered thetechnology, engineering and energy sectors since the mid-1990s. Email Jonat [email protected]

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WHAT DO YOU THINK?Generated by readers, the comments included herein do not reflect the viewsand opinions of Rigzone. All comments are subject to editorial review.Off-topic, inappropriate or insulting comments will be removed.

Brian Mitchell | Feb. 14, 2016

The best way the O&G industry can address climate change is to expose it for the fraud it is.Coal, a former energy darling when environmentalists were combating nuclear energy, hasalready suffered a mortal wound from the propaganda, what makes anyone think oil and gaswill be immune. The darling today will be cast off for so called green energy.

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