July 27, 2017 / 3:15 PM / 2 years ago

BRIEF-Total CFO says making good progress on final investment decisions

July 27 (Reuters) - Total

* Total’s Chief Finance Officer (CFO) Patrick de la Chevardiere told analysts in a call following the company’s second quarter results that it was making good progress on its final investments decisions (FID) on several projects

* De la Chevardiere said Total was evaluating commercial bids for Brazil’s Libra project, FID expected by the end of the year. It said in February that it planned to make FIDs on about 10 projects by August 2018.

* De la Chevardiere said need to see higher oil price before eliminating discount on scrip dividend scheme.

* The CFO said first oil from Angola’s Kaombo project expected around March-April 2018, while Australia Ichthys LNG project was making steady progress.

* He said very little capital was employed in the Qatar Al Shaheen deal and the investment would be recovered quickly.

* He said in short term, Total “does not see any reason which could explain higher oil prices.”

* Asked about the geopolitical impact of dispute between Saudi Arabia and Iran, he said both countries were pragmatic and the Saudis knew, and gave Total the go-ahead, before it signed a major gas deal with Iran.

* Source text for Eikon: Further company coverage: (Reporting by Bate Felix; Editing by Gus Trompiz)

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