Total announces that Total Gabon and the Republic of Gabon have signed an agreement to renew for 25 years the convention of establishment, which expired on June 30, 2007.
The convention of establishment defines, among other things, the legal and tax system governing Total Gabon’s concessions, operating licenses and crude transportation installations. It covers 17 concessions and operating licenses representing an area of nearly 1,500 square kilometres and more than 60% of Total’s share of output in Gabon (more than 50,000 barrels per day in 2006).