TotalEnergies EP Gabon: 2024 Revenue Growth Driven by Operational Efficiency and Market Conditions
Thursday, Feb 13, 2025 5:07 pm ET
3min read 
TotalEnergies EP Gabon, a subsidiary of TotalEnergies SE, reported a 5% increase in revenues for the 2024 fiscal year compared to 2023. This growth was primarily driven by a 6% increase in crude oil marketed volumes and a slight decrease in the average selling price of the company's crude oil. The company's crude oil production increased by 8% compared to the previous year, driven by improved operational efficiency and the results from the wells interventions campaign, which enabled it to offset the natural decline of the fields.
The 6% increase in crude oil marketed volumes was a significant factor in the company's revenue growth. This increase was driven by improved operational efficiency and the results from the wells interventions campaign, which helped offset the natural decline of the fields. The company's crude oil production amounted to 17.0 kb/d in 2024, up from 15.8 kb/d in 2023. This production increase, coupled with the slight decrease in the average selling price of the company's crude oil, contributed to the overall revenue growth.
The average selling price of TotalEnergies EP Gabon's crude oil in 2024 was $77.2/b, slightly down compared to $77.5/b in 2023. This decrease in the average selling price was offset by the increase in crude oil marketed volumes, contributing to the overall revenue growth. The company's revenues amounted to $465 million in 2024, up from $444 million in 2023.
In conclusion, TotalEnergies EP Gabon's 5% revenue growth in 2024 was driven by a 6% increase in crude oil marketed volumes and a slight decrease in the average selling price of the company's crude oil. The company's improved operational efficiency and the results from the wells interventions campaign contributed to the overall production increase, which offset the natural decline of the fields. The company's revenues amounted to $465 million in 2024, up from $444 million in 2023. The company's ability to maintain and improve operational efficiency, as well as the effectiveness of future wells interventions campaigns, will play a crucial role in sustaining the increased crude oil marketed volumes and revenue growth in the long term.
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