In its outlook yesterday Total said it achieved the objective of selling $15-20 billion of assets over the 2012-14 period.

"Total reaffirms the importance of its active portfolio management strategy," the supermajor said.

"Taking into account the acquisitions made over the same period, the group announces an additional asset sale program of $10 billion in 2015-17.

"Total is continuing its transformation by focusing on strategic assets providing growth and high profitability."

The company has trimmed its capital expenditure guidance to $25 billion for 2017, which compares to the $26 billion target for 2014 and the $28 billion clocked up in 2013.

The oil major's stakes in the cash-burning Kashagan oil project and the accident-prone Angola LNG project are considered to be divestment candidates.

"When you have big, complex projects, it's easy for them to struggle to get going," financial services firm Edward Jones analyst Brian Youngberg told the Houston Chronicle.

"Total's had more issues with that than some of their peers.

"Is it because of their own problems or just bad luck? Probably a combination of both."