French oil giant Total expects to maintain growth of its crude production in the Middle East at five per cent annually in line with its growth worldwide.
The Middle East accounts for some nine per cent of Total's production worldwide of 2.6 million barrels per day (mbpd).
"Total plans to increase production as per market demand and supply and the company's crude oil production is growing at the rate of five per cent annually," said Sultan Al Hajji, the spokesman of Total Abu Al Bukhoosh, an entity owned by Total in Abu Dhabi.
Total secured this concession management agreement of Al Bukhoosh, 180 kilometres away from Abu Dhabi, in 1974.
"We expect our growth in production to be in line with the growth worldwide, which is about five per cent annually," Al Hajji said.
Al Hajji declined to give details of Total's production in the UAE and other markets in this region.
He said the company has optimised 60 per cent of the reservoir at Al Bukhoosh and even gas is produced at the field. "It is a mature field but we have a long way to go in further developing it," Al Hajji said.
As the fourth largest energy company in the world, Total operates in some 150 countries and has been present in the UAE for the past 30 years, although it had a regional presence 50 years ago.
The volatility in crude oil prices has no impact on the company as it is mainly involved in production and operational activities and not marketing, he said.
As a long-standing and strategic player in the UAE, Total has equity stakes in Adco, Adma-Opco, Adgas, Gasco and Fertil, all Adnoc-owned companies.
