PORT-GENTIL, Gabonese Republic--(BUSINESS WIRE)--Regulatory News:
Total Gabon (Paris:EC) has signed an agreement with Assala Upstream Gabon S.A. for the sale of its entire 32.9% interest in the Rabi-Kounga field located in the southern onshore region of Gabon. The transaction represents a value of $100 million before adjustments, and is subject to approval by the authorities.
“In the context of oil prices which remain volatile, the sale of our remaining participation in the mature Rabi-Kounga field is in line with Total Gabon’s strategic repositioning which began in 2017, with the objective of strengthening the company’s competitiveness and sustainability,” commented Guy Maurice, President of Total Gabon. “The simplification of our portfolio allows Total Gabon to mobilize its resources on its offshore operated fields which contain the most promising opportunities for development in the medium term.”
Total Gabon operates the offshore Anguille-Ile Mandji and Torpille sectors, as well as the onshore Cap Lopez Oil terminal with a 100% interest. Total Gabon also holds a 42.5% operated interest in the deep offshore Diaba exploration permit and a 65.3% non-operated interest in the offshore Grondin sector.
About Total Gabon
Present in Gabon for over 85 years, Total Gabon is one of the leading operators in the country. In 2017 Total Gabon’s operated production was 48,500 b/d, and its equity production was 44,600 b/d.
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