Total Gabon: 2016 Revenues
February 15 2017 - 11:52AM
Business Wire
Regulatory News:
Total Gabon (Paris:EC):
Main Financial Indicators
2016
2015
2016
vs
2015
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% Revenues (4) $M
745 842 -11%
(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).
2016 REVENUES
Selling prices
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.
Production
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
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
$76,500,000Headquarters: Boulevard Hourcq, Port-Gentil, BP
525, Gabonese Republicwww.total.gaRegistered in
Port-Gentil: 2000 B 00011
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version on businesswire.com: http://www.businesswire.com/news/home/20170215005923/en/
Contact Presse Gabon :Florent
CAILLETflorent.caillet@total.com
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