Discovering new oil resources and developing it are a challenging activity. The company needs to consider several things so they can take the oil and gas resources without damaging the surrounding. Total is a company which focuses on the energy field understand about it. This company has some ways to optimize the result as well as control the risks.
Physical Chemistry Process
Total is trying to improve the oil recovery by using the physical chemistry process. They are done the process by applying chemical EOR or chemical Enhanced Oil Recovery. It works by injecting chemicals which help to boost the recovery process. This system will make the process is more efficient than before.
Explore the Portfolio Maximally
Moreover, Total is also maximizing the portfolio exploration. This effort is used to support the hydrocarbon exploration strategy by selecting all the portfolio of the high-potential prospects. The achievement is to get a maximal profit with a few risks. By applying this strategy, the company is able to supply up to 400 millions barrels of oil per year.
Professional Organizational Structure
A maximal exploration can be achieved by using a good structure and applying it in the right way. Total is using a professional organizational structure to cover five divisions including America, Africa, Asia-Pacific, North Sea, and Russia. By using the professional organizational structure, the company is able to boost the result of hydrocarbon exploration program as well as achieve all the goals. This is also an important strategy to develop a good relationship with the other regions to find any kind of possibilities.
Criteria for a Good Prospect Area
The company also follows the specific criteria while finding and developing a prospect area. Let say, the source has to be clear enough along with sufficient quantities of hydrocarbon. They also need to understand the hydrocarbon pathway and find out the hydrocarbon quality. The process has to meet those criteria so the company is able to do and reach the hydrocarbon exploration goals maximally.