The Paris-based player, which on Thursday revealed a much-reduced full-year profit on lower production and $7.1 billion of impairments, is also significantly reducing its exploration spending this year.
Total wrote in its results statement: "In response to the recent fall in the oil price, Total has launched an ambitious mitigation plan (that) includes significant reductions to organic investments, operating costs and the exploration budget, as well as an acceleration of its asset sale programme."
Organic investments are to be chopped by more than 10% from $26.4 billion last year to between $23 billion and $24 billion this year.
The cut will be achieved by "reducing investments in brownfield developments and stopping certain projects that have become less profitable".
The company did not specify which projects it will be stopping, or whether it will be dropping them completely or merely delaying them.
Total had an initial target for cutting operating costs, mainly within upstream, of $800 million. This has been revised upwards significantly, however, to $1.2 billion.
The exploration budget has been slashed 30% to $1.9 billion, it added.
Total added, however, that within the upstream segment it "is focused on the execution and delivery of its major projects" and plans eight project start-ups this year - three of which started production in January.
These start-ups combined with a 10% stake just awarded to it in Abu Dhabi's major onshore oilfield - which entails a 40-year concession - are expected to see produciton rise 8% this year. Output had, however, slipped 7% last year on 2013's production.
