(AOF) – TotalEnergies EP Gabon announces that its net income stood at 17 million dollars in the second quarter of 2023, down 23% compared to the first quarter of 2023 (22 million dollars). It was negatively impacted by the decline in production and the increase in operating expenses, partly due to the increase in activity linked to the preparation for the five-year shutdown of the Anguille field, and positively by the increase in the price average sales and volumes of crude oil marketed by TotalEnergies EP Gabon.
In the first half of 2023, net income amounted to $39 million, compared to $24 million in the first half of 2022. It was positively impacted by the application of new tax terms in accordance with the agreements signed in December 2022 and by the improvement in the remuneration of cash positions over the period, and negatively by the decline in average selling prices and by the increase in operating expenses.
Its sales for the second quarter of 2023 amounted to 107 million dollars, up 2% compared to the first quarter of 2023 (105 million dollars), in line with the improvement in the average prices of crude oils marketed by the band. Crude volumes sold amounted to 1.33 Mb, slightly up compared to the first quarter of 2023. In the first half of 2023, sales amounted to $212 million, down 20% compared to the first half of 2022.
This decrease is mainly due to the decline in the average selling price over the period.
The average selling price for the quality of crude oil marketed by TotalEnergies EP Gabon amounted to $75.8/b in the second quarter of 2023, up 2% compared to the first quarter of 2023 due to weaker market conditions. favorable to Mandji-grade crude and lower sea freight rates.
In the first half of 2023, the average sale price ($75.1/b) was down 26% compared to the first half of 2022 ($101.0/b).
In the first half of 2023, TotalEnergies EP Gabon’s crude oil production amounted to 16.0 kb/d, up 11% compared to the first half of 2022 (14.4 kb/d).
In the first half of 2023, oil investments amounted to $49 million, up from the first half of 2022 ($14 million), reflecting the start of the well intervention campaign, the acceleration of work of integrity and projects to reduce direct greenhouse gas emissions.
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