Perenco takes over mature Gabon fields from TotalEnergies

French energy major TotalEnergies has concluded the sale of its portfolio of mature non-operated assets located offshore Gabon to Perenco.

For illustration purposes; Source: TotalEnergies

TotalEnergies, then Total, in July 2020 signed an agreement with Perenco to divest its interests in seven mature non-operated offshore fields in Gabon. The deal was subject to approval by the Gabonese authorities.

Now, after receiving the approval of Gabonese authorities, the French company on Thursday announced the closing of its agreement to divest to Perenco the Cap Lopez Terminal and non-operated assets of its 58%-owned affiliate TotalEnergies EP Gabon.

With this transaction, in an amount of $350 million before final adjustment, TotalEnergies EP Gabon is divesting its interests in seven mature offshore fields operated by Perenco Oil and Gas Gabon, along with its interests and operatorship in the Cap Lopez oil terminal, to Perenco Oil and Gas Gabon. The divested assets’ production stood at 8,400 barrels of oil equivalent per day for the first three quarters of 2021.

Source: TotalEnergies

Henri-Max Ndong-Nzue, President of TotalEnergies EP Gabon, stated: “This transaction is aligned with TotalEnergies’ strategy to enhance its portfolio by divesting mature, high break-even fields. TotalEnergies EP Gabon is refocusing on its operated offshore assets in the Anguille and Torpille sectors and remains a committed oil industry player in Gabon.”