Total Gabon: 2020 Revenues
10 Febbraio 2021 - 6:19PM
Business Wire
ASSETS DEPRECIATION
Regulatory News:
Total Gabon (Paris:EC):
Main Financial Indicators
2020
2019
2020
vs
2019
Average Brent price
$/b
41.8
64.2
-35%
Average Total Gabon crude price (1)
$/b
36.5
61.8
-41%
Crude oil production from
fields operated by Total Gabon
kb/d (2)
19.1
23.1
-17%
Crude oil production from
Total Gabon interests (3)
kb/d
25.6
31.2
-18%
Sales volumes (1)
Mb (4)
10.2
11.9
-14%
Revenues (5)
$M
435
808
-46%
The indicators presented above include assets whose disposal
project has been announced on July 30, 2020. As of December 31,
2020, the disposal had not been finalised.
- Excluding profit oil reverting to the Gabonese Republic as per
production sharing contracts.
- kb/d: Thousand barrels per day.
- Including profit oil reverting to the Gabonese Republic as per
production sharing contracts.
- Mb: Million barrels.
- Revenues from hydrocarbon sales and services (transportation,
processing and storage) and profit oil reverting to the Gabonese
Republic as per production sharing contracts.
2019 Revenues
Selling prices
Reflecting the lower Brent price, the average selling price of
the crude oil grade marketed by Total Gabon averaged 36.5 $/b, down
41% compared to 2019.
Production
Total Gabon’s equity share of operated and non-operated oil
production 1averaged 25,600 barrels per day in 2020, down 18%
compared to 2019. This decrease is mainly due to:
- The unavailability of the Anguille field compressor from March
to July;
- A maintenance shutdown of the Torpille field compressor during
the fourth quarter;
- Delayed and less performing projects, as well as a partial
unavailability of compressors on the non-operated Grondin
sector;
- The limitations imposed by the OPEP+ quotas, mainly during the
third and fourth quarters,
- The natural field decline;
partially compensated by the contributions of:
- The gains from the well interventions campaign during the first
quarter on the operated fields.
Revenues
Revenues amounted to $435 million in 2020, down 46% compared to
2019, mainly due to lower average prices and production.
Assets depreciation
Assets depreciation
Given the Brent oil price scenario and the amount of proved and
probable hydrocarbons reserves considered by the Company for its
2020 annual closing, the Board of Directors of Total Gabon has met
today in Libreville and approved the recognition in the fourth
quarter 2020 of an exceptional intangible and tangible assets
depreciation of 144 M$. The related assumptions shall be detailed
in the notes to the financial statements of the 2020 Annual
Financial Report (“Rapport financier annuel 2020”).
1 Including profit oil reverting to the Gabonese Republic as per
production sharing contracts.
Total Gabon 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 www.total.ga Registered in Port-Gentil: 2000 B
00011
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Contact Presse:
actionnariat-totalgabon@total.com
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