PORT-GENTIL, Gabon--(BUSINESS WIRE)--Regulatory News:
Total Gabon (Paris:EC):
Main Financial Indicators
|Average Brent price||$/b||43.7||52.4||-17%|
|Average Total Gabon crude price||$/b||37.9||46.8||-19%|
|Crude oil production from fields operated by Total Gabon||kb/d (1)||55.0||57.2||-4%|
|Crude oil production from Total Gabon interests (2)||kb/d||47.4||47.3||-|
|Sales volumes||Mb (3)||17.6||16.6||+6%|
(1) kb/d: Thousands of barrels a day
(2) Including tax oil reverting to the Gabonese Republic as per production sharing contracts.
(3) Mb: Million barrels
(4) Hydrocarbon sales and services provided to third parties (transportation, treatment and storage).
Brent averaged $43.7 per barrel in 2016, down 17% from $52.4 in 2015. The selling price of the Mandji and Rabi Light crude oil grades marketed by Total Gabon averaged $37.9 per barrel in 2016, down 19% from $46.8 a year earlier.
Total Gabon’s equity share of operated and non-operated oil production(1) averaged 47,400 barrels per day (b/d) in 2016, compared to 47,300 barrels per day in the prior-year period. This stability was mainly due to:
- Improved availability of the Anguille and Torpille installations
- Successful coiled tubing interventions on Anguille Nord Est (ANE) and choke opening of well ANE008 in the second quarter of 2016.
- Well workovers on the Rabi Kounga license.
These factors were offset by:
- The natural decline in fields.
- The sale of Mboga.
- The planned shut-in of Coucal/Avocette in February 2016.
Revenues amounted to $745 million in 2016, down 11% from $842 million in 2015. The decrease was driven mainly by the lower average selling price for Total Gabon’s crude oil grades, partially offset by the increase by 6% of volumes sold over the period due to the lifting schedule.
The 2016 results news release will be published on March 30th 2017, after the market closes.
(1) Including tax oil reverting to the Gabonese Republic as per production sharing contracts.
Société anonyme incorporated in Gabon with a Board of
Directors and share capital of $76,500,000
Headquarters: Boulevard Hourcq, Port-Gentil, BP 525, Gabonese Republic
Registered in Port-Gentil: 2000 B 00011