Total Gabon announced on 23 July that the well “AGMN081”, of the phase 3 of the Anguille field re-development project has been delivered and will be deployed by end of July 2015.

This field, located South-West of Port-Gentil is the first sea deposit of Gabon discovered in 1962. It was thanks to new seismic studies undertaken from 2002 that the re-development project was agreed on and the works to increase the capacity of the installations started in 2010. The objective, according to Total’s projections on Anguille, is to increase the oil recovery rate from 13% to 23%.

The Anguille field is amongst 21 new wells that the Total group is currently operating in Gabon, with 15 producers and 6 for water injection.

After the deployment of Anguille, the oil consortium decided that the last three wells still not operating will be operational in 2017. With regards to its current production, Total Gabon reported that for the first half of the year 2015, the portion of production of crude oil (in operation and not in operation) linked to Total Gabon shares was of 44,200 barrels/day against 47,700 barrels/day for the same period in 2014, a drop of 7%.

With regards to its financial health, Total Gabon announced that for the second quarter of the year 2015, the revenue is of US$ 241 million, an increase of US$ 16 million (+7%) compared to the first quarter of 2015 (US$ 225 million). This increase is explained by the increase in the selling price of the types of crude oil sold by Total Gabon (+US$ 28 million), the crude oil trade for third parties (+US$ 9 million) and services rendered to third parties (+US$ 7 million), partially compensated by the drop in quantities sold over the period linked to the removal planning (-US$ 28 million).