Perenco acquiring Gabon stakes from Total

Perenco, London, has agreed to acquire varying interests in oil and gas fields in Gabon from units of Total SA and to become operator of most of them.

Perenco, London, has agreed to acquire varying interests in oil and gas fields in Gabon from units of Total SA and to become operator of most of them.

The agreement, with total value of about $350 million, also includes 100% of the Rabi-Coucal-Cap Lopez pipeline network. It involves about 13,000 b/d of production.

As part of the deal, Perenco will acquire Total’s wholly owned affiliate Total Participations Petrolieres Gabon (TPPG).

From TPPG, Perenco will acquire 34.7% interests in Grondin, Gonelle, Barbier, and Mandaros fields in the offshore Grondin area; 34.7% interests in Girelle and Pageau fields in the Offshore Torpille area and a 19.3% interest in Hylia field in that area; and a 13.8% interest in Coucal field, a 13.9% interest in Avocette field, and a 14.6% interest in Rabi field, all onshore.

The buyer will assume operatorship of those fields as well as of Atora field onshore from Total Gabon, in which Total holds a 58% interest. Perenco will acquire Total Gabon’s 40% interest in Atora.

The pipeline acquisition is from Total Gabon. Perenco also will acquire an 18% nonoperated interest in onshore Igongo field from Total Gabon as well as some of that unit’s shares in fields covered by the TPPG acquisition.

After the sale, Total Gabon will hold 65.3% nonoperated interests in the Grondin area fields and in Girelle and Pageau fields, a 37.5% interest in Hylia field, and a 32.9% nonoperated interest in Rabi field.

Not covered by the transaction are Total Gabon’s 100% operated interests in offshore Anguille and onshore Ile Mandji fields in the Anguille area, 100% operated interests in Torpille and Torpille Nord Est fields in the Torpille offshore area and a 50% operated interest in Baudroie-Merou field in the same area, a 42.5% operated interest in the deep offshore Diaba Block; and a 100% operated interest in the Cap Lopez oil terminal.

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