Total Gabon : divests its interest in the onshore Rabi-Kounga field (pdf - 168.33 Ko)

Société anonymeincorporated in Gabon with a Board of Directors and share capital of $76,500,000

Headquarters: Boulevard Hourcq, Port-Gentil, BP 525, Gabonese Republicwww.total.ga

Registered in Port-Gentil: 2000 B 00011

NEWS RELEASE

Port-Gentil-July 31st, 2018

Total Gabon divests its interest in the onshore Rabi-Kounga field

Total Gabon has signed an agreement with Assala Upstream Gabon S.A. for the sale of its entire 32.9% interest in the Rabi-Kounga field located in the southern onshore region of Gabon. The transaction represents a value of $100 million before adjustments, and is subject to approval by the authorities.

"In the context of oil prices which remain volatile, the sale of our remaining participation in the mature Rabi-Kounga field is in line with Total Gabon's strategic repositioning which began in 2017, with the objective of strengthening the company's competitiveness and sustainability,"commented Guy Maurice, President of Total Gabon."The simplification of our portfolio allows Total Gabon to mobilize its resources on its offshore operated fields which contain the most promising opportunities for development in themedium term."

Total Gabon operates the offshore Anguille-Ile Mandji and Torpille sectors, as well as the onshore Cap Lopez Oil terminal with a 100% interest. Total Gabon also holds a 42.5% operated interest in the deep offshore Diaba exploration permit and a 65.3% non-operated interest in the offshore Grondin sector.

About Total Gabon

Present in Gabon for over 85 years, Total Gabon is one of the leading operators in the country. In 2017Total Gabon's operated production was48,500 b/d, and its equity production was 44,600 b/d.

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