09-29-2015, 12:32 AM
......Beyond 2019, future production growth will come from Uganda, Brazil and Papua New Guinea when supply chain costs are expected to be lower.
“Fortunately, we currently have no project coming before the executive committee to be sanctioned,” said Total’s chief financial officer Patrick de la Chevardiere.
“I am very happy (because) costs will be lower next year and we see cost deflation coming,” he added.
Pouyanne said ongoing portfolio management will also result in reduced spending over the next two years, pointing out Total is sticking to its previous guidance of selling some $10 billion of assets between 2015 and 2017.......