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SPE.org 

While renewable energy sources are poised to see major growth, possibly displacing natural gas as the top source of electricity in the US, hydrocarbon production will remain above or near current historical highs until at least 2050. The Swedish oil and gas producer is aiming to produce 200,000 B/D while offsetting the entirety of its carbon footprint. The companies will focus on research and development to reduce CO2 emissions and promote the circular economy. A new joint study will test the economic viability of taking CO2 from a cement plant and giving it to an oil company to pump underground. Total will invest $650 million in the development of two main projects, North Gialo and NC 98, resulting in a 180,000-B/D increase in production.

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