Total Gabon: 2021 Revenues

Regulatory News:

Total Gabon (Paris:EC):

Main Financial Indicators

 

 

 

2021

 

2020

2021

vs

2020

Oil price - Brent

$/b

70.9

41.8

70%

Average TotalEnergies EP Gabon crude price (1)

$/b

64.8

36.5

78%

Crude oil production from fields operated by

TotalEnergies EP Gabon

kb/d (2)

15.0

19.1

-22%

Crude oil production from TotalEnergies EP Gabon interests (3)

kb/j

22.9

25.6

-11%

Sales volumes (1)

Mb (4)

8.9

10.2

-13%

Revenues (5)

M$

655

435

51%

1. Excluding profit oil reverting to the Gabonese Republic as per production sharing contracts.
2. kb/d: Thousand barrels per day.
3. Including profit oil reverting to the Gabonese Republic as per production sharing contracts.
4. Mb: Million barrels.
5. Revenues from hydrocarbon sales and services (transportation, processing and storage) and profit oil reverting to the Gabonese Republic as per production sharing contracts.

2021 Revenues

Selling prices

The selling price of the crude oil grade marketed by TotalEnergies EP Gabon averaged $64.8 per barrel ($/b) during 2021, sharp increase compared to 2020.

Production

TotalEnergies EP Gabon’s equity share of operated and non-operated oil production (1) amounted to 22,900 barrels per day in 2021, down 11% compared to 2020.

This was mainly due to:

• A damage to a subsea electrical cable supplying the Anguille and Torpille offshore fields, which occurred in September 2021. The power supply has been restored on January 15th,2021;
• The interests divested in seven mature offshore fields (Grondin non-operated sector) effective since December 7th, 2021;
• The five-year shutdown of the Torpille field during the second quarter 2021;
• A partial production shutdown on the Baudroie operated field due to damage to an evacuation line;
• The natural decline of the fields;

partly offset by :

• A better availability of the operated production from Torpille field following the five-year shutdown;
• The gains on the non-operated Grondin sector, form the conversion campaign of well activation from gas-lift to electrical submersible pumps.

Revenues

The 2021 revenues amounted $655 million compared to $435 million in 2020. This progression is explained by the significative increase of the selling price of the crude oil grade marketed by TotalEnergies EP Gabon between these both periods.

About TotalEnergies EP Gabon

TotalEnergies EP Gabon is owned 58.28% by the TotalEnergies SE, 25% by the Gabonese Republic and 16.72% by private sector investors.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

@TotalEnergies TotalEnergies TotalEnergies TotalEnergies

Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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