By Anthony Shevlin 
 

Total SA (FP.FR) on Tuesday confirmed its 2020 production and investment targets and said it expects between 6% and 7% annual production growth per year from 2017 to 2020.

The French energy company expects $15 billion to $17 billion in capital investment over the same period.

Total reaffirmed its target of reducing operational expenditure by $5 billion per year by 2020 compared with its 2014 base, which is an increase from a reduction of $3.7 billion in 2017.

Total said it expects cash flow to increase by $7 billion between 2017 and 2020 with Brent at $60 a barrel. The return on equity is expected to increase to 12%, the company said.

The company's 2018 interim dividends have been increased by 3.2%, which is in line with an increase of 10% by 2020, the company said.

Total also said it plans to buy back $1.5 billion in shares in 2018.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin

(END) Dow Jones Newswires

September 25, 2018 10:36 ET (14:36 GMT)

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