TotalEnergies EP Gabon

Quarterly Financial Information - Seite 2

⁽²⁾

kb/d : Thousand barrels per day.

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Including profit oil reverting to the Gabonese Republic as per production sharing contracts.

⁽⁴⁾

Sales volume excludes profit oil reverting to the Gabonese Republic as per production sharing contracts, these barrels being handed over in kind to the host state.

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Mb : Million of barrels.

⁽⁶⁾

Revenue from hydrocarbon sales and services (transportation, processing and storage),, including profit oil reverting to the Gabonese Republic as per production sharing contracts.

⁽⁷⁾

Funds generated from operations are comprised of the operating cash flow, the gains or losses on disposals of assets and the working capital changes.

First Quarter 2023 Results

Selling Price

In the first quarter 2023, Brent averaged $81.2 per barrel ($/b), down 21% compared to the first quarter 2022 (102.2 $/b). In a falling oil price environment, the average selling price of the crude oil grade marketed by TotalEnergies EP Gabon averaged to 74.3 $/b, receding 24% compared to the first quarter 2022.

Production

TotalEnergies EP Gabon’s crude oil production averaged in the first quarter 2023 16.2 kb/d, slightly down compared to the first quarter 2022 (16.5 kb/d) mainly due to lower availability of the gas lift compressor on Torpille field, and the natural decline of the fields.

Revenue

The first quarter 2023 revenues amounted to $105 million, down 44% compared to the first quarter 2022, mainly due to the lower average selling price of the crude oil grade marketed by TotalEnergies EP Gabon and lower volumes sold related to a less favorable lifting program.

Funds Generated from Operations

Funds generated from operations amounted to $58 million in the first quarter of 2023, compared to $30 million in the first quarter of 2022. It was positively impacted, between the compared periods, by the working capital variation ($ +30 million) due to the favorable price effect evolution.

Capital Expenditure

Capital expenditure amounted to $24 million in the first quarter 2023, compared to $6 million in the first quarter 2022, mainly due to the increase pace of wells intervention campaign preparation and direct greenhouse gas emission related to our activities reduction projects.