Total Gabon: 2019 REVENUE

Regulatory News:

Total Gabon (Paris: EC):

Key financial data

2019

2018

2019

vs

2018

Average Brent Price

$ / B

64.2

71.3

-10%

Average Total Crude Price Gabon (1)

$ / B

61.8

66.3

-7%

Crude oil production

fields operated by Total Gabon

kb / d (2)

23.1

24.7

-6%

Crude oil production

linked to Total Gabon’s holdings (3)

kb / d

31.2

36.1

-14%

Crude volumes sold by Total Gabon (1)

Mb (4)

11.9

12.1

-2%

Turnover (5)

M $

808

905

-11%

  1. Figures do not include the barrels of taxation accruing to the State within the framework of production sharing contracts, these barrels being returned in kind to the State.

  2. kb / d: thousands of barrels per day.

  3. Figures including barrels of taxation accruing to the State under production sharing contracts.

  4. Mb: million barrels.

  5. Sales of hydrocarbons and works, services rendered (transport services, treatment and storage) and the share of tax accruing to the State under production sharing contracts

2019 turnover

Selling price

Reflecting the drop in the price of Brent, the average selling price of the quality of crude oil marketed by Total Gabon amounted to $ 61.8 / b, down 7% compared to 2018.

Production

The share of crude oil production (operated and not operated) linked to Total Gabon’s holdings 1 rose to 31,200 barrels per day in 2019, down 14% from 2018. This is mainly explained by:

  • the disposal of assets ashore on September 30, 2018,

  • the natural decline of the fields,

partially offset by contributions:

  • well intervention campaigns,

  • of the Torpedo field redevelopment campaign.

Turnover

Revenues for fiscal 2019 amounted to $ 808 million, down 11% from fiscal 2018. This was mainly due to the drop in the average selling price and in production partially offset by the good resistance of the volumes sold.

The press release of the 2019 results will be published on March 18, 2020 after the market close.


1 Figures including barrels of taxation accruing to the State under production sharing contracts.