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Total Gabon Divests its Portfolio of Mature Non-Operated Assets

Gasoil News - Published on Mon, 03 Aug 2020

Image Source: Total Gabon
Total announced 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 USD 290 million and USD 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.

List of assets included in the transaction
AreaFieldTotal Gabons InterestsTotal Gabon's interest after the transactionOperator
GrondinGrondin65.275%0%Perenco Oil & Gas Gabon
GrondinGonelle65.275%0%Perenco Oil & Gas Gabon
GrondinBarbier65.275%0%Perenco Oil & Gas Gabon
GrondinMandaros65.275%0%Perenco Oil & Gas Gabon
TorpilleGirelle65.275%0%Perenco Oil & Gas Gabon
TorpillePageau65.275%0%Perenco Oil & Gas Gabon
TorpilleHylia37.500%0%Perenco Oil & Gas Gabon
Cap Lopez oil terminal100.000%0%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.

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Posted By : Yogender Pancholi on Mon, 03 Aug 2020
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