About TotalEnergies

TotalEnergies SE operates as a producer of oil and gas with a presence in approximately 130 countries spanning five continents. The company is a major energy player that produces and markets fuels, natural gas and low-carbon electricity. The company’s activities extend from exploration and production of oil, gas and electricity to energy distribution to the end customer, and including refining, liquefaction, petrochemicals, trading, and energy transportation and storage. As of December 31, 2020, the company’s combined proved reserves of oil and gas were 12,328 million barrels of oil equivalent (Mboe) (65% of which were proved developed reserves). Liquids (crude oil, condensates, natural gas liquids and bitumen) represented approximately 47% of these reserves and natural gas 53%. These reserves were located in Europe and Central Asia (mainly in Kazakhstan, Norway, Russia and the United Kingdom), Africa (mainly in Angola, Mozambique, Nigeria and the Republic of Congo), the Americas (mainly in Argentina, Brazil, Canada, and the United States), the Middle East and North Africa (mainly in Libya, Qatar, United Arab Emirates, and Yemen), and the Asia-Pacific (mainly in Australia). Gas and associated products (condensates and natural gas liquids) represent approximately 59% of the reserves while crude oil and bitumen account for the remaining 41%. As of December 31, 2020, the company’s combined proved reserves of oil and gas stood at 12,328 Mboe (of which 7,985 Mboe were proved developed reserves). Segments The company operates through four business segments: Exploration & Production (EP); Integrated Gas, Renewables & Power ((iGRP); Refining & Chemicals; and Marketing & Services. E&P segment This segment includes the oil and natural gas exploration and production activities in approximately 50 countries. Europe and Central Asia In Russia, oil and gas production comes mainly from the interests held in the Termokarstovoye (58.89%) and Kharyaga fields (20%) and from the shareholding in PAO Novatek (19.4%). In Norway, the company’s production is sourced from multiple fields, in particular Ekofisk (39.9%) and Troll (3.69%). The giant Johan Sverdrup (8.44%) field started production in October 2019. As part of the continuous optimization of its portfolio, the company sold its 5% interest in the Vestprosess assets (pipeline and gas terminal) in April 2020. In the United Kingdom, production comes from fields in different areas: In the northern North Sea area, production from the Alwyn North (100%) and Dunbar fields (100%) accounts for 56% of the total. The rest of production comes from satellites tied-back to these fields. In the Central Graben area, the company operates the Elgin/Franklin complex (46.17%) which includes the West Franklin (46.17%) and Glenelg (58.73%) fields. It also operates the Culzean gas and condensate field (49.99%), which started production in June 2019; drilling of all productive wells was completed in 2020. In March 2020 as operator, it announced an oil and natural gas discovery on the Isabella prospect (30%), located close to existing infrastructure operated by it. In December 2020, a well was spudded to appraise the Glengorm (25%) discovery made in 2019. In the West of Shetland area, the company holds interests (60%) and operates the producing Laggan, Tormore, Edradour and Glenlivet fields. In the Quad 9 area in the eastern North Sea, the company operates the Gryphon (86.5%), Maclure (38.19%), South Gryphon (89.88%) and Tullich (100%) fields EP has taking into account in the economic evaluations of investments submitted to the Executive Committee. EP is also expanding its expertise in technologies for carbon capture, utilization and storage. In May 2020, the company sold its interests (20%) in the PEDL 273, 305 and 316 shale gas exploration and production licenses and no longer holds any onshore acreage in the United Kingdom. In July 2020, it finalized the sale of various non-strategic offshore assets located in the eastern and central sections of the North Sea, which include the following fields: Dumbarton, Balloch, Lochranza and Drumtochty (100%), Flyndre (65.94%), Affleck (66.67%), Golden Eagle (31.56%), Scott (5.16%) and Telford (2.36%). The Cawdor license (60.6%) expired before the sale was finalized. In Kazakhstan, oil and gas production comes mainly from the Kashagan field operated by the North Caspian Operating Company (NCOC) in the North Caspian license (16.81%). Production in the first phase of the Kashagan field and the associated processing plant, which began in 2016, reached its capacity of 400 kb/d, although production was capped at 327 kb/d in 2020 to comply with the production quotas adopted by OPEC+. In December 2020, an additional phase was approved to increase the oil and gas production capacity. In the Dunga field (60%, operator), phase 3 of development has proceeded on schedule and the start-up of the production of the first wells occurred in November 2020. In Denmark, the company is operator of the Danish Underground Consortium (DUC) (43.2%). Operated production (100%) comes from DUC’s two main assets: the Dan/Halfdan and Gorm/Tyra fields. Production on the Tyra field was halted in September 2019 for the field’s redevelopment, whose objective is to extend the lifetime of both the Tyra field and its satellite fields. Due to COVID-19 pandemic, the production restart initially planned in 2022, should now occur in 2023. While the field’s installations are shut down, the gas is being exported from the facilities at the Dan/Halfdan fields. In the Netherlands, production originates from the assets held in 22 offshore production licenses, of which 18 are operated. As part of the continuous optimization of its portfolio in the North Sea, the company sold its 22.46% interest in the Unit K9ab-A in 2020. The finalization of this transaction is expected in 2021. In Italy, the company operates the Tempa Rossa field (50%) located on the Gorgoglione concession (Basilicate region). Production at Tempa Rossa started in December 2019 and reached its planned capacity of 50 kboe/d in October 2020. It also holds interests (13.77% to 80%) in five exploration licenses. In Azerbaijan, the development of the Absheron gas and condensates field (50%) in the Caspian Sea, which is operated by JOCAP (Joint Operating Company of Absheron Petroleum, a company jointly held by the company and SOCAR), is underway, with a view to supplying the domestic market. The drilling operations completed in November 2019 confirmed the deposit’s significant potential beyond the first development phase, the production capacity of which would be 35 kboe/d. In Bulgaria, the company operates the deep offshore Han Asparuh exploration block (57.14%). A 3D seismic survey was conducted in 2020. In Greece, the company sold in December 2020 its 50% interest in the Block 2 exploration license in the Ionian Sea. In October 2019, it gained a 40% interest and the operatorship of two licenses to explore two offshore blocks west and southwest of Crete. Rest of the Europe and Central Asia The company also holds interests (33.35%) in an exploration license without activity in Tajikistan. Africa (excluding North Africa) In Nigeria, the company’s production is mainly offshore. The company operates five production licenses (oil mining lease (OML)) on the 33 leases in which the company has interests. The company has offshore operations, notably on the following operated leases: On OML 130 (24%, operator), the production on the Egina field started in December 2018. The Egina field reached its production plateau at approximately 200 kboe/d in May 2019. The Preowei field development plan was approved by the authorities in 2019. On OML 99 (40%, operator), the final investment decision of the Ikike field was taken in January 2019. The project is under implementation. On OML 139 (18%), the plan to develop the Owowo discovery, made by the company in 2012, is under study. This discovery is near the OML 138 license, where the Usan field is in production. The company is also present onshore, notably through the SPDC joint-venture (10%), which has 19 production licenses (of which 16 are located onshore) following the sale of interests in OML 17 in January 2021. In Angola, where the company is the country’s major operator, the company production mainly comes from Blocks 17, 32, 0, 14 and 14K: The deep offshore Block 17 (38%, operator), the company’s main asset in Angola, is composed of four major producing hubs, such as Girassol, Dalia, Pazflor and CLOV. The three brownfield projects, Zinia Phase 2, Clov Phase 2 and Dalia Phase 3, launched in 2018, are satellite developments of the Pazflor, CLOV and Dalia FPSOs and are expected to come into production by 2022. Following the agreement signed in December 2019 with state-owned Sonangol (Sonangol, E.P.) and the National Oil, Gas and Biofuels Agency (ANPG), all Block 17 production licenses were extended until 2045 on the effective April 2020. Since April, Sonangol has held a 5% interest in Block 17 and would gain an additional 5% interest in 2036. Since Sonangol’s entry into Block 17, the Group has a 38% interest and continues to serve as operator. Other satellite projects were approved in late 2019. They consist of infill wells expected to be drilled and gradually produce from 2021. They would be used to consolidate production in the Pazflor, Rosa, Girassol and Dalia fields. Exploration is also expected to unlock further resources; two exploration wells are expected to be drilled in 2022-2023. On the deep offshore Block 32 (30%, operator), production of the Kaombo project started in July 2018 with the start-up of the Kaombo Norte FPSO. The second FPSO, Kaombo Sul, started up in April 2019. The discoveries in the central and northern parts of the Block (outside Kaombo) offer additional potential currently being assessed. On Block 0 (10%), production comes from different fields. Drilling was temporarily halted in April 2020 because of the COVID-19 pandemic and is expected to resume in 2021. On Block 14 (20%(2)), production comes from the Tombua-Landana and Kuito fields, as well as the BBLT project, comprising the Benguela, Belize, Lobito and Tomboco fields. Block 14K (36.75%) is the offshore unitization area between Angola (Block 14) and the Republic of Congo (Haute Mer license). Through Angola Block 14 BV, the company holds interests (10%) in the Lianzi field located in Block 14K. In June 2020, the company completed its acquisition of holdings in Blocks 20/11 (50%) and 21/09 (80%) in the Kwanza basin, off Luanda’s coast, with the aim of developing a new production hub. It has become operator for development of the two blocks, where several discoveries have been made. The drilling of an appraisal well on the Block 20/11 started in January 2021. In exploration, the company obtained a license for Block 48 (50%, operator) in 2018. The initial two-year exploration period was extended after the onset of the COVID-19 pandemic, and an exploration well is planned for 2021. In the Republic of Congo, the company’s production comes from the Total E&P Congo subsidiary, owned by the company (85%) and Qatar Petroleum (15%). Two major assets operated by Total E&P Congo are in production in the Moho Bilondo license, such as the Moho Bilondo field (53.3%, operator) and the Moho Nord field. The Moho Nord field has been producing more than its capacity of 100 kboe/d since the start of 2018 due to productivities of the wells. Block 14K (36.75%) is the offshore unitization area between Angola (Block 14) and the Republic of Congo (Haute Mer license). The company holds interests (26.75%) in the Lianzi field located in Block 14K. The licence for the operation of Djeno (63%), the sole oil terminal in the country, expired in November 2020 and negotiations concerning the new license are ongoing. Total E&P Congo continues to operate the oil terminal as part of an interim agreement during the negotiation phase. The Republic of Congo awarded three new exploration licenses to the company in February 2020: Marine XX, deep offshore, as well as Nanga and Mokelembembe, located onshore. In the Democratic Republic of Congo, after the completion of seismic acquisition work, the company informed the authorities of its withdrawal from Block III in January 2019. In Gabon, production comes from the company’s shareholding in Total Gabon. Total Gabon is the operator (100%) of the Anguille and Torpille sector offshore fields in the Mandji Island sector and the Cap Lopez oil terminal. Total Gabon also holds interests in the licenses in the Grondin (65.28%) and Hylia (37.50%) sectors. In July 2020, Total Gabon announced it had signed an agreement with Perenco Oil & Gas Gabon to sell its interests in seven mature offshore fields, as well as its interests and operatorship in the Cap Lopez oil terminal. Once the finalization of the transaction expected in 2021, Total Gabon’s activities will focus on the Anguille-Mandji and TorpilleBaudroie-Mérou operated assets. In Uganda, the company the is a partner, with a 56.67% interest, in the project to develop the Lake Albert oil resources located in Blocks EA1, EA2 and EA3, following its acquisition of Tullow’s interest in the project in November 2020 and the entry of UNOC, Uganda’s national oil company, with a 15% interest in those blocks. It is also a shareholder in East African Crude Oil Pipeline Ltd (EACOP), the company responsible for developing and operating the pipeline of close to 1,450 kilometer that would transport the crude oil to a storage and offloading terminal in Tanga, Tanzania. In Mauritania, the company is continuing exploration activities on two operated offshore blocks: C15 (90%) and C31 (90%) on which a 3D seismic survey has been acquired in 2020. After drilling a well in 2019, the company relinquished Block C9 in January 2020. TOTAL also relinquished Block C7 in June 2020 and Block C18 in December 2020. In Senegal, the company is continuing its exploration activities on two operated offshore blocks. In 2019, it drilled an exploration well in Rufisque Offshore Profond (ROP) (60%). On the block Ultra Deep Offshore (UDO) (70% following the partial sale of a 20% interest in October 2020), a 3D seismic was acquired. In Kenya, the company holds interests in both onshore (10BA, 10BB and 13T) and offshore (L11A, L11B and L12) exploration licenses. In August 2019, it announced it signed an agreement that enables Qatar Petroleum to acquire a portion of its interests in those offshore licenses. The finalization of this transaction remains subject to government approval. On the Blocks 10BB and 13T where several oil discoveries have been made, the partners are evaluating possible options for an eventual commercial development. In South Africa, the company operates five deep offshore exploration licenses in the South Outeniqua Block (100%), Block 11B/12B (45%), Block ODB (77.78%), Block DOWB (80%) since November 2019, and Block 5/6/7 (40%) within the Orange Basin following the acquisition in January 2020 of Anadarko Petroleum Corporation’s assets in South Africa from Occidental Petroleum Corporation. TOTAL sold its interest in the East Algoa license (30%). The finalization of this transaction remains subject to the government approval. In Namibia, the company operates two deep offshore exploration licenses in Blocks 2912 (38%) and 2913B (40%) The interests of its blocks were respectively reduced to 38% and 40% after government approval of the transactions completed in 2020. An exploration well is planned in 2021 on the Venus prospect (Block 2913B). Rest of the Zone of Africa The company holds interests in three exploration licenses in Côte d’Ivoire: in Blocks CI-705 (45%, operator) and CI-706 (45%, operator) following the acquisition of a 45% interest by Qatar Petroleum in September 2020, as well as in Block CI-605 (90%, operator). TOTAL also holds two exploration licenses granted in March 2019, one for Block ST-1 in São Tomé et Principe and the other for Blocks JDZ-7, 8, 11 in the joint development area between São Tomé et Principe and Nigeria. Additionally, in May 2020 the company announced its decision not to continue the acquisition of Anadarko Petroleum Corporation’s assets in Ghana (24% of the Jubilee field and 17% of the Ten field). The Middle East and North Africa In the United Arab Emirates, the company’s production, mainly oil, is sourced from different concessions. Since March 2018, the company holds a 20% interest in the Umm Shaif/ Nasr offshore concession and a 5% interest in the Lower Zakum offshore concession to be operated for a forty-year period by ADNOC Offshore, following the previous Abu Dhabi Marine Areas Ltd. (ADMA) offshore concession. It also operates the Abu Al Bukoosh offshore field (100%) whose license expires in March 2021. In addition, the Group owns a 10% interest in the ADNOC Onshore concession, which encompasses Abu Dhabi’s 15 major onshore fields; the license was extended for 40 years in 2015. The company also holds a 10% interest in ADNOC Gas Processing, a company that produces natural gas liquids (NGLs) and condensates from the associated gas produced by ADNOC Onshore, and a 24.5% interest in Dolphin Energy Ltd., which sells gas from the Dolphin Block in Qatar to the United Arab Emirates and Oman. Dolphin Energy’s operations have not been affected by the change in diplomatic relations between the United Arab Emirates and Qatar. In November 2018, the state-owned Abu Dhabi National Oil Company (ADNOC) signed an agreement with the company granting it a 40% interest in the Ruwais Diyab Unconventional Gas Concession. Under the terms of the agreement, it would explore, appraise and develop the concession area’s unconventional gas resources. The program finalizes fracking and testing of the existing three exploration wells and includes two appraisal wells and two new exploration wells. The completion of the facilities and pipeline would allow the exportation of the unconventional gas to the domestic market in 2021. In Qatar, production comes mainly from the company’s interests in the Al Khalij offshore field (40%, operator) and the Al Shaheen field (30%). The Al Shaheen field, located offshore, 80 kilometers (km) north of Ras Laffan, is operated by the North Oil Company, held by the company (30%) and Qatar Petroleum (70%). The company also holds a 24.5% interest in the offshore Dolphin Block, producing gas that is sold in the United Arab Emirates and Oman. In Libya, production partly comes from the Al Jurf fields located on offshore areas 15, 16 and 32 (75%) and from the El Sharara fields located on onshore areas 129-130 (30%) and 130-131 (24%). In those onshore areas, production was suspended on several occasions between July 2018 and October 2020 for reasons of safety and lack of access to export facilities. The Mabruk fields (75%), located in the onshore areas 70 and 87, have been shut down since the end of 2014. Additionally, in March 2018, the company acquired Marathon Oil Libya Limited, which holds an 16.33% interest in the onshore Waha Concessions, with a production of 47 kboe/d in 2019. This acquisition was definitively approved by the competent authorities in December 2019. Production at the Waha fields was suspended from January to October 2020 for reasons of safety and lack of access to export facilities. The Waha production restarted in November 2020 and the access to export facilities was restored. In Algeria, production comes from the shares in the TFT II and Timimoun gas fields and in the oil fields in the Berkine Basin (Blocks 404a and 208). Under the terms of a worldwide agreement signed in 2017 with the authorities, two new concession contracts and the corresponding contracts for the sale of gas came into effect for TFT II (26.4%) in October 2018 and for TFT SUD (49%) in February 2019. Also, the company finalized an agreement to buy the 22.6% share of a partner in TFTII. A concession contract and a gas marketing contract for Timimoun (37.75%) also took effect in July 2018, replacing those dated July 2012. Production on this field started in March 2018. In addition, the company owns a 12.25% interest in the Hassi Berkine, Ourhoud and El Merk onshore oil fields, which are already in production. In Oman, the company has a presence in oil production in Block 6 (4%). The sale of its 2% interest in Block 53 was finalized in October 2020. Additionally, in February 2020, it signed a concession agreement with the Oman government to explore the resources in the onshore Block 12, located in the Greater Barik area. The Group’s LNG activities in Oman are described in the iGRP segment. In Iraq, the company’s production comes primarily from its 22.5% interest in the risk service contract for the Halfaya field, located in Missan province. Phase 3 of the project to develop the Halfaya field began production in 2018 and reached the production plateau of 400 kb/d in March 2019. A contract was awarded in July 2019 for treatment of the associated gas and recovery of the LPG and condensates. Production in 2020 was affected by the application of the production quotas adopted by the OPEC+. It also holds an 18% stake in the Sarsang field in Iraqi Kurdistan, which is already in production. In Yemen, has a variety of interests in both the onshore Block 5 (Marib basin, Jannah license, 15) and four onshore exploration licenses, for which force majeure has been declared. The Group’s liquefied natural gas (LNG) activities in Yemen are described in the iGRP segment. In Iran, the company ceased all operational activity prior to the re-imposition of the U.S. secondary sanctions on the oil industry as of November 5, 2018. In Syria, the company discontinued its activities connected with oil and gas production since December 2011. In Cyprus, the company is present in the offshore Blocks 6 (50%) and 11 (50%, operator) and entered the exploration Blocks 2 (20%), 3 (30%), 7 (50%, operator), 8 (40%) and 9 (20%) in October 2019. In Lebanon, the company has been operator since February 2018 of the two offshore exploration Blocks 4 and 9 (40%, operator). The first exploration well was drilled on Block 4 in 2020 and declared as a dry well. In Egypt, the company is present in the offshore exploration Block 7 (25%) where drilling led to a gas discovery in July 2020 and entered the offshore Block 3 (35%) as operator in December 2020. Americas The company is operator of the North Platte discovery (60%) and holds a stake in the Anchor project (37.14%). The development of the latter, offering production capacity expected to plateau at 80 kboe/d, continues to move towards first oil in 2024. The FEED (Front End Engineering and Design) studies for the North Platte development began in late 2019 and are still in progress. Both projects, however, have encountered delays related to the COVID-19 pandemic. For the Ballymore discovery (40%), the studies initiated at the end of the appraisal program to establish the project’s profitability based on an optimized development plan, have been completed and the FEED studies are expected to be launched in 2021. In exploration, the Group operated the drilling of the South Platte well in Block GB1003 in 2020. The company owns a 25% stake in shale gas acreage located mainly in Ohio that is part of the Utica Shale. It has not participated in any new production drilling since 2016. In Canada, the company’s output comprises bituminous oil sands. It has a 50% interest in Surmont, a Steam-Assisted Gravity Drainage (SAGD) production project, and a 24.58% interest in the Fort Hills mining extraction project, both in the province of Alberta. Production at Surmont and Fort Hills, like that of most Canadian producers, was cut back significantly in 2020 as a result of the sharp drop in oil prices and reduced demand related to the COVID-19 pandemic. It recorded a significant impairment on these assets in view of the evolution of the oil price scenarios and in coherence with the Group’s new Climate ambition. The company also announced it would not approve any new capacity increase project on those Canadian oil sands assets. In Argentina, the company operated approximately 26% of the country’s gas production in 2020, becoming the country’s leading gas operator: In Tierra del Fuego, on the CMA-1 concession, the company operates the Ara and Cañadon Alfa Complex onshore fields and the Hidra, Carina, Aries and Vega Pleyade offshore fields (37.5%). In the Neuquén onshore Basin, the company holds interests in 10 licenses and operates six of them, including Aguada Pichana Este and San Roque. In addition to conventional oil and gas production, it operates three shale gas and oil pilot projects. The first is in the Aguada Pichana block, in the gas portion of Vaca Muerta; the second is in the Rincón la Ceniza block, in the gas and condensate portion of Vaca Muerta (45%); and the third is in the Aguada San Roque block in the oil portion of Vaca Muerta (24.71%). In exploration, the company is operator for three new exploration licenses in conventional offshore: CAN 111 and CAN 113 (50%) since October 2019 and MLO 123 (37.5%) since November 2019. In Bolivia, the company has a stake in six licenses, five of which are in production: San Alberto (15%), San Antonio (15%), the XX Tarija Oeste Block (Itau) (41%), Aquio and Ipati (50%, operator), which includes the Incahuasi field. The connection of the ICS-3 well in 2018, the drilling of the ICS-5 well in May 2019 and the increase of the treatment facility’s capacity to 390 Mcf/d are all expected to ensure stable long-term production of the field. On the Azero exploration license (50%, operator), the drilling of the NCZ-X1 exploration well proved dry and is being plugged and abandoned. In Brazil, production comes from the Mero field in the Libra (20%), Lapa (35%, operator) and Iara (22.5%) blocks. The acquisition by the company of an additional 10% interest in Lapa under the agreement signed in December 2018, thus increasing the company’s interest in the asset from 35% to 45%, is pending. The finalization of this transaction remains subjects to the Brazilian authorities. The Mero field, on the Libra Block, is located in the Santos Basin, approximately 170 kilometers off the coast of Rio de Janeiro. Production began in 2017 with the Pioneiro de Libra FPSO (with capacity of 50 kb/d) designed to carry out the long-term production testing needed to optimize future development phases. At Iara, production started in November 2019 with the P-68 FPSO (capacity of 150 kb/d), designed for developing the Berbigao and Sururu-West fields. Production at the Atapu-North field began in June 2020 with the P-70 FPSO (capacity of 150 kb/d). Production at those two FPSOs is currently being increased to capacity level. At Lapa, a drilling campaign was conducted from June 2019 to June 2020 in the northeastern section of the field to increase the FPSO’s production (capacity of 100 kb/d) by adding two injector wells and replacing two productive wells. Final investment decision of the South West section of Lapa, with two productive wells and one injector well, is expected in 2022. In exploration, the company and its partners, Qatar Petroleum and Petronas, were awarded Block C-M-541 at the 16th oil bidding round conducted by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) in October 2019. The Block is located in the Campos Basin pre-salt in ultra-deep water. Its 40% interest in the Block is expected to decrease to 30% subject to the closing of an ongoing 10% farm-out. In addition, the Group holds interests in 16 exploration licenses located in the Barreirinhas, Ceará, Espirito Santo, Foz do Amazonas and Pelotas basins. In September 2020, the company signed an agreement with Petrobras to transfer to the latter its role as operator, as well as its interests in the five Foz do Amazonas exploration blocks. The partners decided to relinquish the Pelotas exploration licenses. As part of their strategic alliance, the company and Petrobras have formally agreed to promote closer technical cooperation between the two companies, specifically through a joint assessment of the exploration potential of promising areas in Brazil and through the development of new technologies, particularly in deep offshore. The company holds an interest in the Gato de Mato field discovered in 2012. The field’s resources were confirmed with the GDM#4 well, drilled in 2020. The development studies should pave the way for development to begin in 2021. The company signed an agreement in March 2021 to sell its 28.6% interest in the BM-C-30 where Wahoo discovery is located. The finalization of this transaction is expected in 2021. It also owns an interest in Itaipu (40%) field in the Campos basin’s BM-C-32, currently being evaluated. In 2020, the company (70%, operator) and its partner notified the ANP of their intention to relinquish the license for the Xerelete field. In Venezuela, production comes from the Group’s interests in PetroCedeño S.A. (30.32%) and Yucal Placer (69.5%). Following the new international economic sanctions imposed at the beginning of 2019, the development of the PetroCedeño extra heavy oil field and the debottlenecking project for the water separation and treatment facilities were suspended in 2019 (no well drilled in 2020 compared to three wells in 2019, and 26 in 2018). Production in the PetroCedeño field has fallen to extremely low levels (between 0 and 6 kb/d) since June 2019. In Suriname, the company owns a 50% interest in the Block 58. In 2020, three exploration wells have been drilled in the Block – Maka Central-1, Sapakara West-1, Kwaskwasi-1. Each well has yielded a discovery. Appraisal programs have been submitted to the Suriname government for Maka, Sapakara and Kwaskwasi. It announced a fourth oil and gas discovery at the Keskesi East-1 well, in Block 58 in January 2021. The company assumed the role of operator for Block 58 on January 1, 2021, and would lead the assessment of the discoveries made to date while continuing its exploration of the Block. In Mexico, the company holds licenses in seven offshore exploration blocks in the Gulf of Mexico: Block 2 (50%, operator), located in the Perdido Basin; Blocks 1 (33.33%) and 3 (33.33%), located in the Salina Basin; Block 15 (60%, operator); and Blocks 32 (50%), 33 (50%, operator) and 34 (42.5%), located in the shallow waters of the Campeche Basin. It has begun the process of relinquishing Block 2 to the Mexican authorities. In 2020, the company received the approval of the authorities for the sale of Blocks 15, 33 and 34 to Qatar Petroleum which would result in its interests of 50%, 35% and 27.5% in the Blocks respectively. The closing of this transaction is in progress. In Guyana, the company has interests in the Canje Block (35%), the Kanuku Block (25%) and the Orinduik Block (25%) as part of the exploration of the prolific offshore Guyana Basin. In December 2020, an exploration well was spudded in Block Canje. In March 2021, the sale to Qatar Petroleum of 40% of the company that owns the interests in Orinduik and Kanuku received government approval. A final prospectivity review is to be conducted in 2021 on the Orinduik Block. The Asia-Pacific In Thailand, the production of condensates and natural gas comes from the Bongkot (33.33%) offshore gas and condensates field and is purchased in its entirety by PTT, the state-owned oil and gas company. Various new wells were drilled in 2020 to maintain the production plateau. The licenses associated to the Block 15 and the Blocks 16 & 17 would expire in April 2022 and March 2023 respectively. In China, production comes from the South Sulige Block (49%) in the Ordos Basin of Inner Mongolia, where tight gas development wells are being drilled. TOTAL holds a 49% interest and is operator of the Taiyang exploration Block located in the China Sea in both Chinese and Taiwanese waters. Two 2D seismic surveying campaigns were completed in 2018 and 2019. In Myanmar, the Yadana, Sein and Badamyar fields (31.24%, operator), located on the offshore Blocks M5 and M6, primarily produce gas for delivery to PTT to be used in Thai power plants. Those fields also supply the domestic market via an offshore pipeline built and operated by MOGE, Myanmar’s state-owned company. A 3D seismic survey (5,700 square kilometers) was conducted on Block M5 in 2019. With regard to the A6 exploration license (40%) located in deep offshore waters west of Myanmar, where a gas discovery has been made, the design studies completed in the second quarter of 2019 confirmed the technical and financial viability of the project. The deep offshore Block YWB (100%, operator) was relinquished in August 2020. In Brunei, production comes from the Maharaja Lela Jamalulalam offshore gas and condensates field on Block B (37.5%, operator); the gas is delivered to the Brunei LNG liquefaction plant. In March 2020, the company completed its sale of Total E&P Deep Offshore Borneo BV, a wholly owned affiliate that holds an 86.95% interest in Block CA1, located 100 kilometers off the coast of Brunei. In Indonesia, production comes from the Ruby gas field on the Sebuku license (15%). In Papua New Guinea, the company holds interests in the PPL339 (35%), PPL589 (100%) and PPL576 (100%) exploration licenses. The Group’s LNG activities in Papua New Guinea are described in point 2.1.2 of this chapter. Rest of the Asia-Pacific zone The company also holds interests in exploration licenses in Malaysia. In Cambodia, it is working to implement an agreement signed with the Cambodian government in 2009 to conduct exploration in Block 3, which is located in an area of the Gulf of Thailand claimed by both the Cambodian and Thai governments. The agreement remains subject to the development of an appropriate contractual framework by the two countries. In Sri Lanka, the company signed an agreement in 2016 to conduct studies on the JS-5 and JS-6 Blocks off the country’s eastern coast. Based on the findings of these studies, the Group decided not to renew the agreement in September 2020. Upstream Oil and Gas Activities The company’s upstream oil and gas activities include the oil and gas exploration and production activities of the Exploration & Production and the Integrated Gas, Renewables & Power (iGRP) segments. They are conducted in more than 50 countries. As of December 31, 2020, the company’s combined proved reserves of oil and gas were e 12,328 Mboe (65% of which were proved developed reserves). Liquids (crude oil, condensates, natural gas liquids and bitumen) represented approximately 47% of these reserves and natural gas 53%. These reserves were located in Europe and Central Asia (mainly in Kazakhstan, Norway, Russia and the United Kingdom), Africa (mainly in Angola, Mozambique, Nigeria and the Republic of Congo), the Americas. (mainly in Argentina, Brazil, Canada, and the United States), the Middle East and North Africa (mainly in Libya, Qatar, United Arab Emirates, and Yemen), and Asia-Pacific (mainly in Australia). Gas and associated products (condensates and natural gas liquids) represent approximately 59% of the reserves while crude oil and bitumen account for the remaining 41%. iGRP segment This segment encompasses the oil and natural gas exploration and production activities in more than 50 countries. Production and Liquefaction of LNG Europe and Central Asia In Russia, the company’s LNG production comes from the Yamal LNG project. This onshore project to develop the South Tambey gas and condensates field located on the Yamal peninsula was launched in 2013 by OAO Yamal LNG(1). TOTAL holds an aggregate interest of 29.73% (20.02% directly via the Group’s subsidiary, Total E&P Yamal, and 9.71% indirectly through the company, PAO Novatek(2)). The project includes a three-train gas liquefaction plant with an LNG nameplate capacity of 16.5 Mt/y, commissioned in late 2017 with a first shipment aboard the “Christophe de Margerie” LNG tanker. In 2020, production reached 17.9 Mt exceeding the nameplate capacity by 9%. A fourth liquefaction train with a capacity of 0.9 Mt/y, using a PAO Novatek technology, is under start-up. The company also holds an aggregate 21.64% interest in the Arctic LNG 2 project (10% directly since March 2019 via the Group’s subsidiary, Total E&P Salmanov and 11.64% indirectly via PAO Novatek). The company and its partners approved the final investment decision for the Arctic LNG 2 project in September 2019. With a production capacity of 19.8 Mt/y, the Arctic LNG 2 project will develop the resources of the Utrenneye onshore field (gas and condensates) located on the Gydan Peninsula opposite the Yamal Peninsula. The project involves the installation of three gravity-based structures in Ob Bay that will host the three liquefaction trains of 6.6 Mt/y capacity each. The first shipment of LNG is expected in 2023. The project is also expected to benefit from synergies with the Yamal LNG project. An agreement signed in May 2018 between TOTAL and PAO Novatek also enables the company to acquire a direct interest of between 10% and 15% in all future PAO Novatek LNG projects on the Yamal and Gydan peninsulas. In Norway, the company holds an 18.40% interest in the Snøhvit gas liquefaction plant (nameplate capacity of 4.2 Mt/y). The plant, located in the Barents Sea, is supplied with production from the Snøhvit and Albatross gas fields. Production from the Snøhvit plant has been halted since September 2020 following a fire. According to the operator’s plan, the production might not resume before October 2021. Africa (excluding North Africa) In Nigeria, the company holds a 15% shareholding in Nigeria LNG (NLNG), whose main asset is a liquefaction plant with a total capacity of 22 Mt/y. In late 2019, NLNG’s shareholders approved the launch of a plant extension project for an additional capacity of 7.6 Mt/y. NLNG signed an engineering, procurement and construction (EPC) contract for the extension in May 2020. TOTAL is also present on the OML 58 onshore fields (40%, operator) as part of its joint venture with the company Nigerian National Petroleum Corporation (NNPC), which has been supplying gas to NLNG for two decades. Since 2016, OML 58 onshore fields is also supplying the Nigerian domestic market. In Angola, the company holds a 13.6% shareholding in the Angola LNG project, which includes a gas liquefaction plant with a total capacity of 5.2 Mt/y near Soyo and supplied by gas associated with production from Blocks 0, 14, 15, 17, 18 and 32. In Mozambique, in September 2019, the company acquired from Occidental Petroleum Corporation, a company that hold 26.5% shareholding in the Mozambique LNG project previously held by Anadarko, for which the final investment decision was taken in June 2019. The project plans to liquefy the gas produced by the Golfinho and Atum fields in Offshore Area 1 by building two onshore liquefaction trains with a total capacity of 13.1 Mt/y to liquefy the gas produced by the Golfinho and Atum fields in Offshore Area 1. Due to the occurrence of security incidents in the Cabo Delgado area in December 2020, onshore construction work of the project has been suspended. The sale of approximately 90% of the output of Mozambique LNG has been secured by long-term contracts for delivery to customers in Asia and Europe. Part of the remaining gas is expected to be kept for the domestic market in order to contribute to the country’s economic development. The first LNG shipments are expected in 2024. The Middle East and North Africa In Qatar, the company participates in the production, processing and exporting of gas from the North Field through its interest in the Qatargas 1 and Qatargas 2 LNG plants: Qatargas 1: The company holds a 20% interest in the North Field-Qatargas 1 Upstream field and a 10% interest in the LNG plant (three trains with a total capacity of 10 Mt/y). Qatargas 2: The company holds a 16.7% interest in train 5, which has a LNG production capacity of 8 Mt/y. The company offtakes part of the LNG produced in accordance with the 2006 contracts, which provides for the purchase of 5.2 Mt/y of LNG by the company. In Oman, in 2018, the company signed an MOU with the Oman government for the development of, on the one hand, natural gas resources on the onshore Blocks 10 and 11, located in the Greater Barik area (25%), on the other hand, and the development of a LNG plant in the port of Sohar, with an initial production capacity of 1 Mt/y (80%, operator). This plant would supply LNG ship bunkers. The company also produces LNG through its investments in the Oman LNG (5.54%)/Qalhat LNG (2.04%) through Oman LNG liquefaction complex, with an overall capacity of 10.5 Mt/y. In the United Arab Emirates, the company holds 5% (capacity of 5.8 Mt/y) ADNOC LNG, which processes the associated gas produced by ADNOC Offshore to produce LNG, NGL and condensates, and 5% of National Gas Shipping Company, which owns eight LNG tankers and exports the LNG produced by ADNOC LNG. In Egypt, the company holds a 5% shareholding in the first train (capacity of 3.6 Mt/y) in the Idku plant of Egyptian LNG’s liquefaction project. In Yemen, the deterioration of security conditions in the vicinity of the Balhaf site caused the company Yemen LNG, in which the company holds a shareholding of 39.62%, to stop its commercial production and export of LNG and to declare force majeure to its various stakeholders in 2015. The plant has been put in preservation mode. Americas In the United States, the LNG production of train 1 (4.5 Mt/y) of the Cameron LNG plant in Louisiana, in which the company holds a 16.60% shareholding, started in May 2019. The first phase of the Cameron LNG plant, which has a capacity of 13.5 Mt/y, comprises three liquefaction trains, each with a capacity of 4.5 Mt/y. Trains 2 and 3 are under construction and are expected to start up in 2020. The company is continuing to evaluate the expansion of the plant beyond its initial capacity of 13.5 Mt/y. In July 2019, the company signed various agreements to develop the Driftwood LNG project in Louisiana, which are conditioned by the final investment decision of the project. In Mexico, the company is continuing its discussions with Sempra Energy to participate in the Costa Azul project so as to takeoff 0.8 Mt/y of LNG. The Asia Pacific In Australia, LNG production comes from the Gladstone LNG (GLNG) (27.5%) project and Ichthys LNG PTY Limited (Ichthys LNG) (26%) project. The Ichthys LNG project involves the development of a gas and condensate field located in the Browse Basin. This development includes subsea wells connected to a platform for the production, processing and export of gas, a FPSO for processing and exporting the condensate, an 889 km gas pipeline and an onshore liquefaction plant in Darwin. At full capacity, the two trains of the gas liquefaction plant produce 8.9 Mt/y of LNG. Approximately 100,000 barrel of oil equivalent per day of offshore and onshore condensates and LPG are produced. Ichthys LNG started offshore production in July 2018 and exported its first LNG shipment in October 2018. Ichthys LNG has reached its production plateau. The LNG is sold, mainly in the Asian market, under long-term contracts. GLNG is an integrated project with production from the Fairview, Roma, Scotia and Arcadia fields, transportation to, and liquefaction capacity of 8.8 Mt/y located on Curtis Island, Queensland. The plant’s two trains are in production respectively since 2015 and 2016. In Papua New Guinea, the company owns a shareholding in Block PRL-15 (40.1%, operator since 2015). The state of Papua New Guinea retains the right to take a shareholding in the license (when the final investment decision is made) at a level of 22.5%. In this case, the company’s shareholding would be reduced to 31.1%. Block PRL-15 includes the two discoveries Elk and Antelope. The appraisal program of these discoveries was completed in 2017 and the results of the wells drilled confirmed the resource levels of the fields. In 2019, development studies at conceptual stage and preparatory activities continued in the Elk and Antelope fields located on the block PRL-15. The gas produced by these fields would be transported by a 320 km onshore/offshore pipeline to the PNG LNG site, where it would be liquefied in two new trains to be constructed, with a total capacity of 5.4 Mt/y integrated to the existing producing facilities operated by a partner in the project. The company and its partners have signed an agreement with the independent State of Papua New Guinea defining the framework for the development of the Papua LNG project in April 2019. Purchasing, Sale and Trading of LNG The company’s LNG trading activities are improving with the management and the optimization of a portfolio of long-term contracts and spot activity. The company acquires long-term volumes of LNG, mainly from liquefaction projects in which the company holds an interest. New LNG sources notably arising from, the acquisition of Engie’s LNG assets in the United States and new sanctioned project (Arctic LNG 2, Nigeria LNG Train 7, and Mozambique LNG) are expected to ensure the growth of the company’s LNG portfolio in the coming years. The company also acquires long-term LNG volumes from American projects in which the Group has no equity (Sabine Pass, Corpus Christi, Cove Point and Freeport). Those volumes add to and diversify its worldwide portfolio of LNG resources. It strengthened its LNG activity in the United States through its acquisition of Toshiba’s LNG portfolio in 2019. In 2020, the company purchased 350 shipments under forward contracts from Algeria, Australia, Egypt, the United States, Nigeria, Norway, Qatar and Russia and 185 spot or medium-term shipments, compared with 297 and 186 shipments in 2019 and 173 and 97 in 2018 respectively. Deliveries from Yemen LNG have been halted since 2015. In 2020, 37 shipments in the supply portfolio were canceled. Moreover, the company holds several LNG long-term contracts with countries, including Chile, China, the Dominican Republic, Indonesia, Japan, Panama, Singapore, South Korea and Taiwan. Additionally, the Group is developing LNG retail sales (by barge and tanker trucks) for industrial use or mobility (by ship, waterway or road) in Europe, in the Caribbean in partnership with AES, and in Oman through the Sohar project (refer to point 2.1.2.1 of this chapter). In March 2021, it and Shenergy Group have signed binding agreements for the supply of up to 1.4 million tons per year of Liquefied Natural Gas from TOTAL, as well as the creation of a joint venture to expand LNG marketing in China. The company’s LNG trading activities are growing strongly in the spot market. In 2020, these LNG trading activities represented a volume of 35.1 Mt, compared with 28.7 Mt in 2019 and 17.1 Mt in 2018. The portfolio focuses, in particular, on Asian markets (including China, India, Indonesia, Japan, South Korea and Taiwan) and is made up of spot and forward contracts that enable the company to supply gas to its key customers worldwide, while retaining sufficient flexibility to seize market opportunities. Since 2019, the trading teams have been located in Geneva, Houston and Singapore. LNG Shipping As part of its LNG shipping activities, the company uses a fleet of 16 LNG carriers, including 2 owned ships. In order to support the strong growth of the Group’s LNG portfolio, 4 additional new LNG carriers are added to the fleet chartered in 2021. In addition to the long-term fleet, each year it charters spot and short-term ships to serve trading needs and to adapt transport capacity to seasonal demand. The company is also present in LNG shipping through its Total E&P Norge subsidiary, which charters two LNG vessels, and through the Group’s holdings in LNG production and export projects that manage their own fleets of LNG vessels, such as Nigeria LNG, Angola LNG, Qatargas, Yamal LNG and Mozambique LNG. LNG Regasification The company holds interest in regasification assets and has signed agreements that provide long-term access to LNG regasification capacity worldwide, through existing assets in Europe (France, the United Kingdom, Belgium and the Netherlands) and in the Americas (United States and Panama). Since 2019, the company has had an LNG regasification capacity of 28 Bcm/y. Some projects under development in Asia (India) and Africa (Benin, Côte d’Ivoire) could increase this regasification capacity. For its operations, the company charters two FSRUs. In France, the company sold its 27.5% interest in Fosmax LNG in February 2020. This transaction has not affected its booked capacity of 7.7 Bcm/y with Fosmax LNG. In 2018, the company sold its 9.99% stake in the Dunkirk LNG terminal but retained access to a regasification capacity of 2 Bcm/year in 2019 at the terminal. The capacity booked at the Montoir de Bretagne terminal was 4.2 Bcm/y in 2020 and is expected to increase to 6.5 Bcm/y beginning in October 2021. The company held a capacity of 3 Bcm/y at the Fos Tonkin terminal until December 31, 2020. In the United Kingdom, as part of its stake in the Qatargas 2 project, the company holds an 8.35% interest in the South Hook LNG regasification terminal, which has a total capacity of 21 Bcm/y. The Group has also booked regasification capacity of 3.2 Bcm/y at the Isle of Grain terminal. In Belgium, the company holds a regasification capacity of 2.2 Bcm/y on the Zeebrugge terminal. In the Netherlands, the company holds a regasification capacity of 1.1 Bcm/y reserved until 2024. In the United States, the company has reserved a regasification capacity of approximately 10 Bcm/year at the Sabine Pass terminal in Louisiana until 2029. In 2012, the company and Sabine Pass Liquefaction (SPL) signed agreements to transfer its reserved regasification capacity to SPL over time in return for payment. In India, the partnership between the company and Adani group includes several assets across the gas value chain notably two regasification terminals: Dhamra LNG in Eastern India, currently under construction, and potentially the Mundra terminal in Western India. With these agreements, it can break into the Indian natural gas market, which has significant potential for growth, with a recognized local partner. The company sold its 26% interest in the Hazira terminal in January 2019. In Benin, the company and the Republic of Benin and the Société Béninoise d’Énergie Électrique (SBEE) have signed agreements to develop a floating LNG import terminal and supply more than 0.5 Mt/year of regasified LNG to Benin for a 15-year period, starting in 2023. This FSRU will be located off the coast of Benin and connected to the existing and projected Maria Gléta electric power plants by an offshore gas pipeline. In Cote d’Ivoire, a consortium led by the company (34%, operator) has been awarded responsibility for developing an FSRU-type LNG regasification terminal in Abidjan but given the downward revision of consumption forecasts, the project is being redefined. Biogas The Biogas business was created in September 2020 within the company, with the mission to develop and operate biomethane production units based on industrial and agricultural organic by-products. Power Production and Storage The company has a portfolio of gross installed renewable electricity generation capacity of 7 GW in 2020. It confirms its objective to invest in order to have a gross power generation capacity from renewables of 35 GW in 2025 and would continue its development to become a major international player in renewable energies with the ambition to have developed a gross capacity of 100 GW by 2030. Power Generation from Natural Gas The company is building a portfolio of combined-cycle gas turbines (CCGT) in Europe as part of its strategy to create an integrated gas and electricity value chain in Europe, from production to marketing, as an ideal complement to renewable power generation from inherently intermittent sources. As of December 31, 2020, in Europe, the company operated one cogeneration unit and eight CCGT with combined gross power generation capacity of 3.56 GW. Those plants produced 8.1 TWh of electricity in 2020. Power Generation from Renewables The company had gross installed power generation capacity from renewable sources of 7 GW at year-end 2020. Net power generation production from renewable sources totaled 4.0 TWh in 2020. It focuses on developing generation capacity covered by power purchase agreements (PPAs). As of December 31, 2020, the company has a gross power generation capacity from renewable sources, either installed or in development, under a PPA of approximately 17.5 GW. Total Quadran In 2018, the company acquired Direct Energie, which owned Quadran, now renamed Total Quadran. This acquisition enables the Group to accelerate its growth in solar and wind power in France. As of December 31, 2020, Total Quadran operated a portfolio of more than 250 onshore wind, solar, hydroelectric and biogas assets in France, and continues to develop a portfolio of renewable electricity projects at various stages of maturity. Its gross installed generation capacity rose to 1 GW at year-end 2020. In 2020, Banque des Territoires acquired an interest of 50% in a portfolio of solar and wind energy assets held by Total Quadran in France, with total capacity of 143 MW. Total Quadran has farmed down to Banque des Territoires end-2020 and Crédit Agricole Assurances early 2021 half of its equity in two portfolios of renewable projects (solar et wind), respectively 53 MW and 285 MW. These farm downs are the implementation of the business model defined by Total for the development of renewable energies aiming to achieve over 10% return on equity. In March 2020, Total Quadran acquired Global Wind Power France, which is developing a portfolio of more than 1 GW of onshore wind power projects in France, including 250 MW that is expected to be commissioned by 2025. Total Eren In 2017, the company acquired a 23% stake in Eren Renewable Energy, since renamed Total Eren. This interest was increased to 29.6% at the end of 2019. It has an option to acquire 100% of Total Eren in 2023. At year-end 2020, Total Eren had a diversified set of assets in renewable energies (wind, solar and hydropower), representing gross capacity of approximately 3.3 GW in operation or under construction worldwide compared with 1.7 GW at year-end 2019 and 1.3 GW at year-end 2018. Through its partnerships with local developers, Total Eren is developing projects in Europe, Central and South Asia, the Asia-Pacific region, Africa and Latin America. In April 2019, Total Eren acquired Novenergia and expanded its presence, particularly in southern Europe. Total Solar International Total Solar International, a wholly owned subsidiary, contributes to growth in solar activities by concentrating on major solar power generation plants, coupled in some cases with batteries or other means of generation and electricity storage sites in targeted areas: the Middle East, Japan, South Africa, Chile, India and Spain. In February 2020, as part of its growth strategy, Total Solar International acquired a stake in solar power plants owned by Indian group Adani. The company expanded its partnership with Adani in April 2020 by creating a 50/50 joint venture with Adani Green Energy Limited (AGEL) that maintains total capacity of solar generation of more than 3 GW. The partnership was further reinforced in October 2020 with an additional 205 MW transaction. In January 2021, the company acquired a 20% minority interest in Adani Green Energy Limited (AGEL) from Adani Group. AGEL has over 14.6 GWac of contracted renewable capacity, with an operating capacity of 3 GW and another 3 GW under construction and 8.6 GW under development. The company aims to achieve 25 GWac of renewable power generation by 2025. Total Solar Distributed Generation Total Solar Distributed Generation, a wholly owned the company’s subsidiary, focuses on developing and building rooftop hotovoltaic systems that could be combined with batteries or other means of generation and are installed at industrial and commercial sites (BtB) for their own consumption. Depending on each country’s laws, Total Solar Distribution Generation can operate those systems or lease them to local firms. The subsidiary enters into private PPAs as part of those activities. In addition, Total Solar Distributed Generation helps to carry out its program for solarizing its sites Total Solar Distributed Generation operates in more than 15 countries, with customers primarily in Southeast Asia, the Middle East and Europe. In September 2019, Total Solar Distributed Generation and the Envision Group, the world leader in smart energy systems, formed an equally owned joint venture in China to commercially develop distributed solar energy projects for self-supply by BtB customers. At year-end 2020, Total Solar Distributed Generation had gross installed capacity of 189 MW, including 106 MW in China, 46 MW in Southeast Asia, 24 MW in the Middle East and 13 MW in Europe. Offshore wind power As part of its long-term strategy to develop renewable energy sources, in 2020, the Group acquired a strong presence in the fixed and floating offshore wind industry. In the fixed offshore wind sector, the company acquired a 51% stake from SSE Renewables in the 1,140 MW Seagreen project in the Scottish North Sea. The project is currently under construction, with commissioning projected for late 2022. The acquisition also includes a potential expansion of up to 360 MW. It has established a presence in the nascent floating wind industry as well, where it hopes to become a lobal leader. In March 2020, the company acquired an 80% stake in the groundbreaking Erebus floating wind project from the developer, Simply Blue Energy. Located in the Celtic Sea off the Welsh coast, Erebus has capacity of 96 MW. Plans to expand the project’s capacity to 400 MW are currently being examined. In September 2020, the company and Green Investment Group, an affiliate of Macquarie, entered into an equally owned partnership to develop a portfolio of five floating offshore wind projects in South Korea, with potential total capacity of more than 2 GW. Finally, in October 2020, the company became a 20% shareholder in the Eolmed floating wind farm pilot project, located in the Mediterranean off the French coast and providing 30 MW of capacity. In February 2021, a 50/50 joint venture between the company and Green Investment Group (GIG), a subsidiary of the Macquarie Group, was awarded a concession on the UK seabed to jointly develop up to 1.5 GW of offshore wind projects. SunPower Corporation (SunPower) Since 2011, the company has been the largest shareholder in SunPower Corporation, an American company listed on NASDAQ and based in California. In August 2020, SunPower spun off a new firm, Maxeon Solar Technologies Ltd., based in Singapore and also listed on NASDAQ. SunPower now focuses on developing and marketing energy services (a combination of photovoltaic systems, energy storage and services) in the residential, industrial and commercial segments of the U.S. market. Maxeon Solar Technologies Ltd., meanwhile, specializes in the design, manufacture and sale worldwide of very-high-efficiency solar cells and panels. Tianjin Zhonghuan Semiconductor Co., Ltd. (TZS), a global force in wafers, acquired a 28.848% stake in Maxeon Solar Technologies Ltd. at the time of the spin-off. As of December 31, 2020, the company owned 51.6% of SunPower and 36.4% of Maxeon Solar Technologies Ltd. Electricity Storage The acquisition of Saft Groupe S.A. (Saft) is perfectly aligned with the company’s ambition to develop its low-carbon business. Saft is a century-old French company that specializes in the design, manufacture and sale of high technology batteries for industry. Saft develops batteries based on nickel, lithium-ion and primary lithium technologies. The company is active in transport (aeronautics, rail and off-road electric mobility), industrial infrastructures, civil and military electronics, space, defense and energy storage. Building on the strength of its technological know-how, and through its energy storage activities, Saft is placed to benefit from the growth in renewable energies beyond its activities, by offering massive storage capacities, combined with the generation of electricity from renewables. This is one of Saft’s main sources of growth. In 2019, the company strengthened its energy storage and electric mobility activity, with the creation of a joint-venture with Tianneng Energy Technology, a subsidiary of the private Chinese group Tianneng, with a view to developing their lithium-ion activity; and with the acquisition of Go Electric Inc., an American specialist in energy resilience solutions for microgrids. Additionally, Saft signed a contract with the Finnish operator TuuliWatti to build the major energy storage system in the Nordic countries. Saft is also active in the European alliance working on a new generation of ‘solid electrolyte’ batteries. As of December 31, 2020, Saft was present in 19 countries. Saft is expanding, especially in Asia, South America and Russia, and has 14 production sites and approximately 30 sales offices. Access to Energy First launched in 2011 in four pilot countries, the company’s solar solutions for access to energy were distributed in 38 countries in 2019. In 2019, 3.3 million lamps and solar kits – including the company’s new SUNSHINE range launched in 2018 – were sold in cumulative, helping improve the everyday lives of 17 million people. The distribution channels used are both the company’s traditional networks (service stations) and ‘last mile’ networks built with local partners to bring these solutions to isolated areas. In addition, TOTAL provides both financial backing (in the form of investment through its Total Carbon Neutrality Ventures fund) and technical support to start-ups promoting energy access or operating in related fields, such as microgrids, minigrids, the circular economy (repairs to defective products, component reuse and recycling), solar home systems and pay-as-you-go payment models. Natural Gas and Electricity Marketing and Trading Natural Gas and Electricity Marketing Europe With a portfolio of approximately 8 million sites (B2B and B2C customers) and 47 terawatt hour (TWh) of electricity and 96 TWh of gas supplied in 2020, the company has become a leading player in the sale of natural gas and electricity to both the residential and professional markets (business and industrial segments). The company is targeting approximately 10 million sites (B2B and B2C customers) in Europe in every segment, and in particular a 15% market share in France and Belgium in the residential segment by 2025. The company markets natural gas and electricity in the residential and professional segments in France, through its Total Direct Énergie subsidiary (a merger of the Total Énergie Gaz, Total Spring France and Direct Énergie entities), in Belgium, through its subsidiaries Lampiris (residential) and Total Gas & Power Belgium (professional) and in Spain, where it serves both professional and residential customers following its December 2020 acquisition of EDP’s operations in Spain. The company also markets natural gas and electricity in the professional market in the United Kingdom, the Netherlands and Germany. Rest of the World In Argentina, the company markets the natural gas that it produces. In 2020, the volume of gas sales were stable to 4.3 Bcm. In India, the partnership with Adani was strengthened in October 2019 with the announcement of the acquisition by the company of 37.4% of Adani Gas Limited, one of the major local distributors of natural gas, holding 38 urban concessions. Natural Gas and Electricity Trading The company is active is the trading of natural gas and electricity in Europe and North America. The company sells its output to third parties and supplies its affiliates. In Europe, the company sold 89 Bcm of natural gas in 2020. The company also delivered 90 TWh of electricity in 2020, mainly from external sources. In North America, the company sold 21 Bcm of natural gas in 2020 from its own production or from external resources. Trading (excluding LNG, Gas and Electricity) and Transport Trading (excluding LNG, Gas and Electricity) The company is also active in markets other than natural gas, LNG or electricity, such as LPG, petcoke and sulfur. In 2020, the company traded and sold approximately 6.2 Mt of LPG (propane and butane) worldwide. The company sells petcoke produced by the Port Arthur refinery in the United States and the Jubail refinery in Saudi Arabia. Petcoke is sold to cement producers and electricity producers mainly in China, India, as well as in Mexico, Brazil, other Latin American countries and Turkey. In 2020, 2.3 Mt of petcoke were sold in the international market. The company also sells sulfur, mainly from the production of its refineries. In 2020, 1.8 Mt of sulfur were sold. Transport of Natural Gas The company holds interests in gas pipelines located in Brazil and Argentina. Carbon Neutrality Businesses The company has set itself the goal of proposing and implementing a strategy in the fields of energy efficiency, carbon neutrality, CO2 -related business chains (carbon capture, utilization and storage, nature-based solutions, offsetting, etc.) and the creation of decarbonization offerings. Carbon Capture, Utilization and Storage The company is seeking to develop new businesses that will enable its industrial, residential and power-generating customers to capture, store and reuse their CO2 emissions. To do that, it is testing new industrial solutions at its own facilities. Natural Carbon Sinks Carbon sinks based on natural solutions are an effective means of capturing CO2. In June 2019, the company created a new entity, Total Nature Based Solutions (NBS), that is dedicated to investing in those solutions. Total Carbon Neutrality Ventures Formerly known as Total Energy Ventures, the company’s venture capital fund has been renamed Total Carbon Neutrality Ventures (TCNV). Its investments are now dedicated to carbon neutrality businesses and are expected to reach an aggregate amount of $400 million by 2023. TCNV invests in fledgling companies offering technology or business models that enable companies to reduce their energy use or the carbon intensity of their activities. With teams based in Europe and the United States, the fund invests all over the world, in fields, such as hydrogen, smart energy, energy storage, energy efficiency, new forms of mobility, bioplastics and recycling. While TCNV mainly invested in Europe and the United States in the past, the fund began investing in Asia in 2018. It has signed cooperation agreements with NIO Capital and Cathay Capital to invest in China’s mobility and energy sectors respectively. Energy Efficiency Services GreenFlex is a wholly owned subsidiary offering services designed to improve the energy and environmental performance of its customers. GreenFlex has more than 700 customers, employs approximately 500 people and logged sales of approximately €400 million at year-end 2020. Refining & Chemicals segment This segment includes a primary industrial segment that includes refining, base petrochemicals (olefins and aromatics), polymer derivatives (polyethylene, polypropylene, polystyrene and hydrocarbon resins), the transformation of biomass and the transformation of elastomers (Hutchinson). This segment also includes the activities of trading and shipping. Refining & Chemicals Refining & Chemicals’ activities include includes refining (including the production of biofuels), base petrochemicals (olefins and aromatics), polymer derivatives (polyethylene, polypropylene, polystyrene and hydrocarbon resins), biomass conversion and elastomer processing (Hutchinson). Refining & Chemicals’ strategy integrates a constant requirement for safety, core value of the company, and the priority given to the management of its environmental footprint. Refining and Petrochemicals The company has interests in 17 refineries (of which nine are operated by Group companies), located in Europe, the Middle East, the United States, Asia and Africa. As of December 31, 2020, its refining capacity was 1,967 kb/d. The Refining & Chemicals segment managed a refining capacity of 1,950 kb/d at year-end 2020, or 99% of the Group’s total capacity. The company’s petrochemicals operations are located in Europe, the United States, Qatar, South Korea and Saudi Arabia. With the vast majority of its sites either adjacent to or connected by pipelines to Group refineries, its petrochemical operations are closely integrated with its refining operations, thereby maximizing synergies. Europe The company is the second major refiner and the second largest petrochemist in Western Europe. In Western Europe, the company operates seven refineries (one in Belgium in Antwerp; four in France in Donges, Feyzin, Gonfreville and Grandpuits; one in the United Kingdom in Immingham; and one in Germany in Leuna), and one biorefinery in France in La Mède and owns a 55% stake in the Zeeland refinery in the Netherlands in Vlissingen. The company’s main petrochemical sites in Europe are located in Belgium in Antwerp (steam crackers, aromatics, polyethylene) and Feluy (polyolefins, polystyrene), and in France, in Carling (polyethylene, polystyrene, polypropylene compounds), Feyzin (steam cracker, aromatics), Gonfreville (steam crackers, aromatics, styrene, polyolefins, polystyrene) and Lavéra (steam cracker, aromatics, polypropylene). In Belgium, the company operates the Antwerp platform, where a major upgrade completed in 2017 has improved the site’s conversion rate, resulting in the production of lighter, low-sulfur products. The upgrade also increased the flexibility of the site’s steam crackers, which can process ethane and gases recovered from the refining process. As part of the modernization project of the Feluy polymers production site, announced in 2018, one of the three existing polypropylene units, focused on commodities and in production for 40 years, was shut down in 2020. In Germany, the company operates the Leuna refinery, where a project is under way to enable the conversion of vacuum residue into diesel and methanol. In the United Kingdom, the company announced in July 2020 it signed an agreement to sell its interest in the company that owns the Lindsey refinery and its associated assets. This sale was finalized at the end of February 2021. North America The company’s main sites in North America are located in Texas, at Port Arthur (refinery, steam cracker), Bayport (polyethylene), La Porte (polypropylene) and in Louisiana, at Carville (styrene, polystyrene). At Port Arthur, the company holds at the same site a 100% interest in a 178 kb/d capacity refinery and a 40% shareholding in BASF Total Petrochemicals (BTP), the main assets of which being a condensate splitter and a steam cracker. The company continues to work on strengthening the synergies between these two plants. The BTP cracker has a production capacity of approximately 1 Mt/y of ethylene, of which approximately 85% is from ethane, propane and butane, which are produced in abundance locally. At La Porte, the company holds a 100% interest in a large polypropylene plant, with a capacity of 1.2 Mt/y. At Carville, the company operates a styrene plant with a capacity of 1.2 Mt/y, in a 50% joint-venture with SABIC and a polystyrene unit with a capacity of 600 kt/y, which is 100% owned. Additinally, the joint venture created in 2018 between the company (50%) and Borealis continued the construction on the Port Arthur site of a new ethane cracker with an ethylene production capacity of 1 Mt/y for an investment of $1.7 billion. The commissioning of this new cracker will take place in 2021. The joint venture has also started building a new polyethylene unit downstream of the cracker, at the Bayport site. Representing an investment of $1.4 billion, this integrated development will more than double the site’s polyethylene production capacity to about 1 Mt/y and maximize synergies with existing assets at Port Arthur and Bayport. Asia, the Middle East and Africa In Saudi Arabia, the company has a 37.5% shareholding in Saudi Aramco Total Refining and Petrochemical Company (Saudi Aramco), which operates the Jubail refinery. This refinery, located close to Saudi Arabia’s heavy crude oil fields, increased its capacity by 10% at the beginning of 2018 to 440 kb/d. The refinery’s configuration enables it to process heavy crudes and produce fuels and other light products that meet specifications and are mainly intended for export. The refinery is also integrated with petrochemical units, such as an 800 kt/y paraxylene unit, a 200 kt/y propylene unit, and a 140 kt/y benzene unit. In addition, the company and Saudi Aramco signed in 2018 an agreement to jointly develop the engineering studies for the construction of a petrochemicals complex adjacent to the refinery. This project would include a mixed- load steam cracker (50% ethane and refinery gases) with a capacity of 1.5 Mt/y and polyethylene units with a capacity of 1 Mt/y. In South Korea, the company has a 50% stake in Hanwha Total Petrochemical Co., which operates a petrochemical complex in Daesan (condensate splitter, steam cracker, styrene, paraxylene, and polyolefins). In Qatar, the company holds interests in two ethane-based steam crackers (Qapco, Ras Laffan Olefin Cracker-RLOC) and four polyethylene lines operated by Qapco in Messaied, including a linear low-density polyethylene plant with a capacity of 550 kt/y (Qatofin) and a 300 kt/y low-density polyethylene line (Qapco). The company also holds a 10% interest in the Ras Laffan condensates refinery, with a total capacity of 300 kb/d. In Algeria, in 2019, the company created the STEP joint venture (Sonatrach Total Entreprise de Polymères, in which Sonatrach holds 51% and the company 49%) to implement a petrochemical project in Arzew, in north western Algeria. The project includes the construction of a propane dehydrogenation plant and a polypropylene production unit with a capacity of 550 kt/y. In the rest of Africa, the company also has interests in four refineries (South Africa, Cameroon, CÔte d’Ivoire and Senegal). Refining & Chemicals provides technical assistance for two of these refineries, such as the Natref refinery with a capacity of 109 kb/d in South Africa and the SIR refinery with a capacity of 80 kb/d in CÔte d’Ivoire. Biofuels production In Europe, the company produces biofuels, primarily renewable diesel and ether produced from ethanol and isobutene (ETBE) for incorporation into gasoline. Since mid-2019, the La Mède refinery produces renewable diesel and petrochemical bio-feedstocks Biopolymer Production The company is involved in developing activities associated with the conversion of biomass to polymers. The main area of focus is developing drop-in solutions for direct substitutions, by incorporating biomass into the company’s existing units, for example HVO or other hydrotreated vegetable oil co-products in a naphtha cracker and developing the production of new molecules, such as polylactic acid polymer (PLA) from sugar. In October 2020, LanzaTech, the company and L’Oréal announced the creation, thanks to their innovative partnership, of the world’s first sustainable packaging made from captured and recycled carbon emissions. The successful conversion process takes place in three steps: LanzaTech captures industrial carbon emissions and converts them into ethanol using a unique biological process, the company thanks to an innovative dehydration process jointly developed with IFP Axens converts the ethanol into ethylene before polymerizing it into polyethylene that has the same technical characteristics as its fossile counterpart, L’Oréal uses this polyethylene to produce packaging with the same quality and properties as conventional polyethylene. This technological and industrial success opens the way for new opportunities for the capture and re-use of industrial carbon emissions. Biomass Conversion Research Programs On its R&D platform in Solaize (France), the company develops new biocomponents derived from the transformation of the biomass by using a methodology based on predictive modeling and chemical conversion nto high added-value biomolecules. In the longer term, the company is also studying the potential for developing a phototrophic process for producing biofuels through bioengineering of microalgae and microalgae cultivation methods. It has various European partners in this field (CEA, Wageningen). Plastics Recycling and Circular Economy The company is committed to developing recycling to address the issue of end-of-life of plastics. In addition, the company has the ambition to produce 30% of its polymers from recycled materials by 2030. The company is a founding member of the Alliance to End Plastic Waste, which brings together approximately 40 companies in the plastics and consumer goods value chain. Mechanical Recycling In February 2019, the company acquired French company Synova, a leader in the production of recycled polypropylene made from the plastic materials recovered through waste collection and sorting. To meet growing demand from carmakers and automotive equipment manufacturers for high-performance recycled materials, a project designed to double production capacity to 45 kt/y will be carried out in 2021. Chemical Recycling In synergy with refining and petrochemicals activities, chemical recycling addresses the issues of the circular economy, and in particular the use of plastics in food-related applications. In Europe, in September 2020, the company and its partner Plastic Energy announced the construction of France’s first chemical recycling plant, with the capacity to process 15 kt/y of plastic waste, a project that is part of the conversion of the Grandpuits refinery in the Paris region. Using an innovative recycling technology, the new plant will convert plastic waste via pyrolysis into feedstock for the production of polymers that will have the same properties as virgin polymers and will notably be suitable for use in food-sector applications. Start-up is expected for 2023. Elastomer Processing (Hutchinson) The elastomer transformation specialist Hutchinson is one of the world leaders in anti-vibratory systems, fluid management, precision sealing and bodywork sealing. These solutions are used worldwide, primarily in the automotive, aeronautical and industrial manufacturing sectors (defense, railroads, energy). As of December 31, 2020, Hutchinson had 89 production sites across the world (of which 59 are in Europe and 19 are in North America). Trading & Shipping The activities of Trading & Shipping are focused primarily on serving the company’s needs, and notably include selling and marketing the company’s crude oil production; providing a supply of crude oil for the company’s refineries; importing and exporting the appropriate petroleum products for the company’s refineries to be able to adjust their production to the needs of local markets; chartering appropriate ships for these activities; and trading on various derivatives markets. In addition, with its acquired expertise, Trading & Shipping is able to extend its scope beyond the aforementioned activities. Trading & Shipping conducts its activities worldwide through various wholly-owned subsidiaries established on major oil markets in Europe, Asia and North America. Trading Trading operates on physical and derivatives markets, both organized and over the counter. In connection with its Trading activities, the company, like various other oil companies, uses derivative energy instruments (futures, forwards, swaps and options) to adjust its exposure to fluctuations in the price of crude oil and petroleum products. These transactions are entered into with various counterparties. Shipping The transportation of crude oil and petroleum products necessary for the activities of the company is co-ordinated by Shipping. In 2020, Shipping chartered approximately 2,750 voyages) to transport 119 Mt of crude oil and petroleum products. As of December 31, 2020, the mid-term and long-term chartered fleet numbered 58 vessels (including 10 LPG vessels). Marketing & Services segment This segment includes the worldwide activities of supply and marketing in the field of petroleum products. Europe Retail This segment is responding to changing markets in Western Europe by developing a line of products and services. The network is made up approximately 7,000 TOTAL-branded service stations, mainly divided among its key markets, which are France, Germany, Belgium, the Netherlands and Luxembourg where this segment reached an average and stable market share of 16% in 2020. In France, the dense retail network of approximately 3,500 stations includes approximately 1,800 TOTAL-branded service stations, approximately 700 TOTAL ACCESS-branded stations (service stations combining low prices and fuels) and approximately 850 Elan-branded stations (located in rural areas), of which 140 are expected to be rebranded as TOTAL stations by the end of 2020. The company-branded service stations enjoy relationships with their local customers, meeting their everyday needs with a multi-service, multi-product offering developed through services in restaurants, convenience stores and car washes provided by major brands, such as Bonjour and TOTAL WASH (the major branded network in France), as well as partnerships tailored to local requirements. The company has interests in 27 depots in France, seven of which are operated by the company in the DépÔt Rouen Petit-Coronne. In Germany, the company operates approximately 1,200 company-branded service stations as of December 31, 2020. In Belgium, the company has approximately 550 company-branded service stations. In the Netherlands, the company had approximately 380 company-branded service stations as of December 31, 2020. In Turkey, approximately 500 service stations use the TOTAL brand under the terms of a brand licensing agreement. In road transport, the company offers services specifically designed for this growing sector with its AS 24 brand, including a secure, chip-based fuel card accepted at more than 1,000 specialized service stations for heavy-duty vehicles across Europe. AS 24 is constantly expanding its regional presence along major international road corridors, primarily in Eastern Europe. As of 2020, European carriers with an AS 24 fuel card can refuel at partner service stations of Lukoil in Russia and Azpetrol in Azerbaijan. AS 24 is supporting the energy transition in the freight transport sector by offering NGV and bio-NGV in several European countries, including France. AS 24 is also expanding its array of innovative mobility-related services, such as a satellite-based global positioning system that can be used at Europe’s biggest toll plazas and a standalone system for locating trailers. Lubricants The company continues its growth in Europe, drawing primarily on its 10 operated lubricants and greases production sites, particularly in Rouen, France and Ertvelde, Belgium, plus sites in the United Kingdom, Spain, Germany, Romania, Turkey and, since 2018, Russia. In November 2019, the company announced the launch of ECO2, a range of hydraulic fluids from the circular economy (re-refining and specific patented treatment of waste oil) that enable companies to reduce their environmental footprint. Commercial Sales, Mobility and Other Specialties In Europe, the company produces and markets bulk fuels, heating fuels, and specialty products and relies on its industrial facilities to produce special fluids (Oudalle in France) and bitumen (Brunsbüttel in Germany). Africa Retail The company is the major retailer of petroleum products on the African continent. In the Africa zone, the retail network in 2019 was made up of approximately 4,500 company-branded service stations, in approximately 40 countries. The company has major retail networks in South Africa, Nigeria, Egypt and Morocco. In 2018, the company also launched in Angola a fuel retail network with the national company Sonangol. The company acquires independent petroleum networks in certain countries. The company finalized in 2017 the purchase of assets in Kenya, Uganda and Tanzania, enabling it to strengthen its supply and logistics activities in East Africa and boost the growth of the retail network with approximately 100 additional service stations, notably in Tanzania. In 2019, this segment acquired a payment card software and organizational solutions provider in Mauritius, which has been operating in Africa, the Caribbean and the Middle East. Lubricants The company is the major distributor of lubricants on the African continent and continues its growth strategy. This segment relies in particular on its lubricant production plants in Nigeria, Egypt, Kenya and South Africa. A new production site is under construction in Algeria. In 2018, the company acquired a lubricants production plant in Tanzania and the associated commercial activities, which are enabling it to grow in the country and in neighboring countries. Professional Markets, Mobility and Other Specialties The company is a major partner, in particular for mining customers in Africa, where it delivers fuel supply and management innovative, low-carbon and comprehensive energy solutions, as part of hybrid offers that include solar energy in its existing portfolio of products and services. In this way, this segment offers a range of products and services aimed at professionals in Africa. Industrial customers receive support from the company for the maintenance of on-site facilities with a lubricants in-service analysis solution, for example. In mining, construction and agriculture, the company offers its Optimizer digital platform, which enables customers to cut their costs through control of their energy consumption using the data sent from sensors installed on their facilities and equipment. The Asia-Pacific – the Middle East This segment markets its products and services in approximately 20 countries in this zone. Retail The company had approximately 2,000 company-branded service stations over the Asia-Pacific – Middle East zone as of December 31, 2019, with service station networks in Cambodia, China, Indonesia, Jordan, Lebanon, Pakistan and the Philippines. The company is also a major player in the Pacific islands. While pursuing its growth in Pakistan, the Philippines and China, the company continues to improve on the major markets, in particular in India, where it intends to deploy 1,500 service stations approximately 10 years in partnership with the Indian conglomerate Adani. This partnership was extended in October 2019 with the announcement of the acquisition of a 37.4% stake in Adani Gas Limited, with the ambition to develop a network of 1,500 natural gas stations for vehicles, of which 500 in synergy with service stations. In February 2019, Saudi Aramco and the company signed a joint-venture agreement to develop a network of fuel and retail services in Saudi Arabia. The two partners also acquired a network of 270 service stations they plan to modernize. The company is also pursuing its growth in the zone by offering TOTAL EXCELLIUM premium fuels, which are available in China, Fiji, New Caledonia, Pakistan, the Philippines, Cambodia and Lebanon. Lubricants This segment proposes a premium product and services offering through its network of approximately 800 service centers. The company is also developing partnerships with major Asian car manufacturers, other industries and major actors in online commerce to improve its sales and develop new services. Professional Markets, Mobility and Other Specialties The company has signed various partnership agreements with industrial customers, enabling it to expand its operations on various markets, such as mining and construction, in various countries in the zone. In Asia, the company supplies lubricants and services to approximately 50 mining sites, including leading industry players, such as BHP, Vale and Thiess, operating in Australia, Indonesia, Mongolia, New Caledonia, Papua New Guinea and the Philippines. Following an agreement signed in 2018 with China Communications Construction Company Ltd., a major Chinese player in the construction sector, the company entered into another preferred supplier agreement in 2019 with a major Chinese player in the energy and construction sector to extend their partnership, focused on Africa, to a worldwide scope. In specialty products, the company is present in the LPG market in Vietnam, in Bangladesh, in New-Caledonia and in India with a network of nearly 80 service stations that are exclusively devoted to LPG fuel. Americas In retail, the company owns nearly 1,000 company-branded service stations as of December 31, 2020. Products and Services Development The company is working with its customers to develop products and services that reduce their energy consumption, such as its products bearing the Total Ecosolutions label, which include Total Excellium fuels and Fuel Economy lubricants. Those products and services include a range of energy solutions (fuels, gas, solar power, wood pellets) and services for auditing, monitoring and managing energy consumption. In particular, the company has joined forces with Groupe PSA (newly Stellantis), renewing a cooperation agreement in early 2021 for a 5-year period. The agreement focuses on lubricants, R&D, automotive racing and mobility. The company has partnered with DS Techeetah, two-time Formula E(4) world champions, in 2019 and 2020, and has supplied the team with specially developed lubricants since 2019. Since 2018, it has also become the official fuel supplier for various endurance racing championships(5), including the Le Mans 24 Hour race, for five years. In 2019, that partnership was expanded to include hydrogen delivery to help develop a hydrogen-powered endurance car for a special category of the Le Mans 24 Hour race in 2024. These partnerships reflect its engineering know-how in formulating fuels and lubricants for the engines of the future, operating under extreme conditions and stringent fuel consumption reduction requirements. Strategy The company’s strategy consists in transforming the group into an energy company by profitably growing its energy production, particularly from liquefied natural gas and electricity. Research and Development The company’s research and development costs were $895 million in 2020. History TotalEnergies SE was founded in 1924. The company was incorporated in France in 1924.