Total Gabon Divests its Portfolio of Mature Non-Operated Assets
30 Juillet 2020 - 9:25AM
Dow Jones News
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces that its 58%
owned affiliate Total Gabon has signed an agreement with Perenco to
divest its interests in seven mature non-operated offshore fields,
along with its interests and operatorship in the Cap Lopez oil
terminal. The transaction remains subject to approval by the
Gabonese authorities.
The price to be paid by Perenco will be between $290 million and
$350 million, depending on future Brent prices. The production
divested by Total Gabon amounted to approximately 8,000 SEC barrels
of oil per day in 2019.
"This transaction demonstrates our ability to high grade Total
E&P's portfolio by monetizing mature fields with high breakeven
point," commented Arnaud Breuillac, President Exploration &
Production at Total. "We remain fully committed to Gabon through
our operated production clusters at Anguille-Mandji and
Torpille-Baudroie-Mérou, where we continue to maximize value for
all stakeholders."
List of assets included in the transaction
Total Gabon's
Total Gabon's interest after the
Area Field Interests transaction Operator
Perenco Oil &
Grondin Grondin 65.275% 0% Gas Gabon
Gonelle 65.275% 0%
Barbier 65.275% 0%
Mandaros 65.275% 0%
Torpille Girelle 65.275% 0%
Pageau 65.275% 0%
Hylia 37.5% 0%
Cap Lopez oil terminal 100% 0% Total Gabon
About Total Gabon
Total has been operating in Gabon for more than 90 years and is
a major player in the country's upstream and downstream businesses.
In 2019, Total Gabon's SEC production came to around 33,000 barrels
of oil equivalent per day.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms "Total", "Total Group" and Group are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL SE nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200729006157/en/
CONTACT:
Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: Total
Copyright Business Wire 2020
(END) Dow Jones Newswires
July 30, 2020 03:10 ET (07:10 GMT)
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