TotalEnergies EP Gabon: 2024 Revenues

PORT-GENTIL, Gabon--(BUSINESS WIRE)--Regulatory News:

TotalEnergies EP Gabon (Paris:EC):

Main Financial Indicators

		2024	2023	2024 vs. 2023
Average Brent Price	$/b	80.8	82.6	-2%
Average TotalEnergies EP Gabon crude price ^(1)	$/b	77.2	77.5	-
Crude oil production from fields operated by TotalEnergies EP Gabon	kb/d ^(2)	17.0	15.8	+8%
Sales volumes^(3)	Mb ^(4)	5.7	5.4	+6%
Revenues ^(5)	M$	465	444	+5%

^(1)	The crude price calculation excludes profit oil reverting to the Gabonese Republic as per production sharing contract, these barrels being handed over in kind to the host state.
^(2)	kb/d: Thousand barrels per day. (excluding gas production)
^(3)	Sales volumes excludes profit oil reverting to the Gabonese Republic as per production sharing contract, these barrels being handed over in kind to the host state.
^(4)	Mb: Million of barrels.
^(5)	Revenue from hydrocarbon sales and services (transportation, processing and storage), including profit oil reverting to the Gabonese Republic as per production sharing contracts.

2024 Revenues

Selling price

Over 2024 year, the average Brent price reached $80.8/b, down 2% compared to 2023 year ($82.6/b). The average selling price of the quality of crude oil marketed by TotalEnergies EP Gabon amounted to $77.2/b in 2024, slightly down compared to 2023 ($77.5/b).

Production

The TotalEnergies EP Gabon crude oil production amounted to 17.0 kb/d, up 8% from the previous year (15.8 kb/d). This production increase is driven by the improved operational efficiency and the results from the wells interventions campaign which enable to offset the natural decline of the fields.

Revenues

In 2024, the revenues amounted $465 million, up 5% compared to 2023 ($444 million), mainly due to the increase of TotalEnergies EP Gabon crude oil marketed volumes (+6%), offsetting the slight decrease in TotalEnergies EP Gabon crude oil marketed average prices.

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About TotalEnergies EP Gabon

TotalEnergies EP Gabon is 58.28% owned by TotalEnergies SE, 25% by the Gabonese Republic and 16.72% by the public.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note

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This document may contain forward-looking statements. They may prove to be inaccurate in the future and are dependent on risk factors. Neither TotalEnergies SE nor any of its subsidiaries undertakes or assumes any commitment or responsibility to investors or any other stakeholder to update or revise, in particular as a result of new information or future events, any or all of the statements, forward-looking information, trends or objectives contained in this document. Information regarding risk factors that could have a material adverse effect on TotalEnergies' financial results or operations is also available in the most up-to-date versions of the Universal Registration Document filed by TotalEnergies SE with the Autorité des marchés financiers and Form 20-F filed with the United States Securities and Exchange Commission ("SEC").