French oil group Total has revealed its plans to achieve a 25 per cent rise in output from its African oil and gas projects over the next five years
Post 2015, the oil giant plans to reach a manufacturing capacity of three million barrels of oil a day.
The company, however, stressed its output projection of three million barrels of oil a day was not a production target, but an estimate of capacity based on an assumed oil price of US$100 a barrel.
Total recently said that 70 per cent of the fields on which it was basing its forecast for the 2015 to 2017 period were already either producing or in development.
Three of the projects that will help deliver the post-2015 surge are Egina in Nigeria, Kaombo in Angola and Moho in Congo Brazzaville.
Total and other top oil firms like BP and Shell have been ramping exploration investments in relatively underdeveloped regions like Africa to take advantage of the high price of oil which averaged US$113.6 a barrel in the first half of 2012, up two per cent on the year.
Total also announced it is to buy a stake in exploration rights covering the Rovuma Basin, offshore Mozambique, from the Malaysian state oil company, Petronas.
The company already has operations in Uganda and Kenya in eastern Africa.
