Total SA FP

Like its fellow majors, Total faces a world where it is increasingly difficult and expensive to expand production and add reserves. Much of the remaining pools of easily accessible resources large enough to interest the majors reside in the hands of governments keen on capturing as much value as possible. Total and its peers are largely being kept from participating in new conventional projects, making it increasingly difficult for the company to acquire new reserves. In the case of Total, this reality has turned the company increasingly toward natural gas (specifically liquefied natural gas, of which it is the world's second-largest player behind Shell RDS.A), as well as frontier oil exploration in areas such as deep offshore, Russia, and oil sands.