TotalEnergies Aims for 3% Oil and Gas Growth Through 2030

TotalEnergies has outlined ambitious growth plans for its oil and gas production, targeting an annual increase of more than 3% until 2030. The company's strategy includes the start-up of new low-cost projects currently under development, which will boost energy production by about 4% per year by the end of the decade.

TotalEnergies also expects its Integrated Power division to be free cash flow positive in 2027 and for electricity to account for 25% of its energy mix by 2035. The company's board has decided to increase the dividend by more than 5% per year for financial years 2026 to 2030, with a shareholder return of at least 40% of cash flow.

TotalEnergies has made significant investments in recent months, including the development of the Ima gas field offshore Nigeria and the Acacia-5 discovery in Block 17 offshore Angola. The company's proven reserves life index is more than 12 years, which will allow it to maintain a production plateau of around 3 million barrels of oil equivalent per day until 2035.