Yves Le Stunff

You have worked on a number of projects in Total. How will your experience give added value to the Han Asparuh project?

During my 24 years in Total’s Exploration & Production division, I have had various technical and managerial positions in France and abroad, alternating highly specialized jobs in research, in exploration operations and in development studies. In the last five years, I have been in charge of developing the Digital Transformation of E&P with a very transverse scope that allowed me to get broad knowledge of our organization, our affiliates and the respective challenges of different technical and support entities. I am happy to bring this experience and my energy to Total E&P Bulgaria in these exciting times.

Han Asparuh project is at a turning point after several years of exploration and three successfully drilled wells. Up to now, commercial volumes of hydrocarbons were not found. Still, a large part of the Block remains unexplored and the exploration wells have demonstrated the presence of a petroleum system. Following the recent 3D seismic acquisition, next spring we shall decide whether to launch a fourth drilling campaign.

In the present context of a pandemic crisis and low barrel price, I will encourage and challenge the team to come up with the best exploration and potential development scheme for the Block.

What are your key priorities as a General Manager of Total E&P Bulgaria?

I have to say that I am really pleased to start in an affiliate with a very experienced and professional team that has made my first months as General Manager very smooth.

My first priority is of course Safety. This is especially true in the context of the COVID-19 pandemic crisis. Even though no field operations shall take place in 2021, we all need to make sure we keep on working in a safe mode at the office or at home and maintain the safety culture of the affiliate that has been built over the past years until the next operations phase starts.

My second priority is of course to make sure our highly motivated Exploration team works in the best possible conditions (which is already the case) so that they can come up with the best possible evaluation of Block Han Asparuh's potential using the newly acquired 3D seismic data. To that respect I believe it will be key to maintain a close relationship with our partner OMV Petrom’s team which is now following our project.  

What is your opinion on the current development of the Bulgarian energy system?

Bulgaria power generation mainly relies today on nuclear and coal. The power generation mix shall deeply evolve in the coming years linked to a strong reduction of coal consumption and increase of the share of gas and renewables. Bulgaria now relies on imports of gas through pipelines from mainly Russia, as well as from Azerbaijan and Greece LNG regasification terminals.

Of course, if a major gas discovery is made on Han Asparuh Block which can be produced at a reasonable price, it would definitely play a great role in Bulgaria’s energy mix and help the country strengthen its gas hub position on the Balkans.  

In any case, the transformation of Bulgaria’s energy mix towards more gas and renewables is an opportunity for Total as a broad energy company.

What is the future of energy given the current global challenges – the COVID-19 pandemic, the oil price and the climate change? 

The world is facing today multiple crisеs that generate many uncertainties and challenges.

In this environment, it is probably good to remind a few certainties: the world still needs energy and will need energy in the future as its population keeps on growing; the energy transition is an urgent necessity to preserve the climate; gas will play an important role in the energy transition while renewables are growing; oil is here to last several more decades as, for instance, transportation systems will not shift globally from one day to another into a new type of energy.

With these certainties in mind, Total has developed and reinforced its strategy to become a broad energy company, producing more energy and less CO2 with ambitious targets for the years to come (carbon neutrality in Europe in 2050). This means developing capacities into low carbon energy (wind, solar) and when it comes to Exploration and Production, the new strategy translates into focusing into Low Cost Oil (as the volatility of oil prices is here to last) and into more gas.

November, 2020