What were the main developments for Perenco Gabon in 2019?

In 2019, we achieved significant milestones in our operations. We maintained an average daily production of 72,000 barrels of oil per day (bopd) and 50 million cubic feet (1.42 million cubic meters) of natural gas per day. This production was crucial for supplying power plants in Libreville and Port-Gentil, which, in turn, fed the national electricity grid. Additionally, we invested in drilling activities, completing 40 wells both onshore and offshore. Notably, we also conducted a deepwater exploration well in waters reaching 1,000 meters. Furthermore, seismic acquisition was carried out at the Arouwe block, and we are currently analyzing the results alongside our partners.

What can be expected from Perenco Gabon in 2020?

In the first quarter of 2020, our average production stood at 70,000 bopd and 54 million cubic feet (1.53 million cubic meters) of natural gas per day. As a response to the global oil crisis, we have adjusted our plans for the year. Instead of drilling additional wells, we will focus on well maintenance and workovers to ensure the efficiency of our existing infrastructure. Approximately 60 well workovers are scheduled for 2020, with 50 onshore and 10 offshore operations. This strategy aims to optimize productivity and reliability. Moreover, we are in the process of installing a second mobile offshore production unit, the MOPU-B, at the Tchatamba field. This project, scheduled for completion in December 2020, will enhance production capabilities and increase annual production through improved well efficiency.

Can you provide an update on the recent developments involving the replacement of the Banio FSO and the construction of the offshore pipeline?

Recently, we replaced the FSO Banio with the FSO Mayumba due to the end of its lifecycle. The FSO Mayumba is a converted tanker that underwent dry docking and refurbishment. We installed new machinery for oil storage, tank coating, a mooring system, and a helideck. Since July 2018, the FSO Mayumba has been operational, storing up to 400,000 barrels of oil, which is similar to the storage capacity of the FSO Banio. Additionally, we operate the Fernan Vaz FSO at the Oguendjo field, closer to Port-Gentil. This vessel has storage capabilities of approximately 2 million barrels and facilitates the export of the Oguendjo blend. Furthermore, Perenco operates a pipeline network spanning 2,000 kilometers in Gabon, including a new 50-kilometer pipeline that has been operational since early 2019. This pipeline enables the transportation of crude oil from nearby fields, such as the Tchatamba Complex, to the Oguendjo oil terminal, improving the marketability of the Oguendjo blend.

What is Perenco’s long-term strategy in Gabon?

Perenco’s long-term strategy in Gabon revolves around maximizing and extending production at mature fields while making marginal discoveries economically viable. We have consistently invested in gas projects to support and sustain electricity initiatives in Gabon. Notably, our gas-supply line and infrastructure play a crucial role in powering the new Port-Gentil gas-fired power plant. We have confidence in the government of Gabon’s continued utilization of our capabilities, fostering mutual development and skill-building for the future, ensuring the prosperity of both Perenco and the nation.