PARIS – Total’s 58% owned affiliate Total Gabon has agreed to sell its stakes in seven non-operated fields offshore Gabon to Perenco.
The transaction, which includes operatorship of the Cap Lopez oil terminal, is subject to approval by the Gabonese authorities.
Perenco will pay $290-350 million, depending on future Brent prices, with the divested production totaling around 8,000 SEC b/d of oil in 2019.
“This transaction demonstrates our ability to high grade Total E&P’s portfolio by monetizing mature fields with high breakeven point,” said Arnaud Breuillac, president Exploration & Production.
“We remain fully committed to Gabon through our operated production clusters at Anguille-Mandji and Torpille-Baudroie-Mérou…”