Sequel to acquisition of Total Gabon assets of the oil terminal built in Cap Lopez, the oil company Perenco Oil & Gas Gabon has planned to set a new investment approach in 2022 in order to further development of the said assets. 

“At the level of Cap Lopez, we will create fantastic synergies for the State of Gabon and Perenco with many investments that will be made in 2022, to modernize this terminal and pool the activity of storage and export of crude oil in Gabon,” said Adrien Broche, CEO of Perenco Gabon.

This recent commitment was made during the signing of the amendment in finalizing the sale of the assets of this terminal to Perenco by Total.

The investment, of which actual value is still yet undisclosed by company,but was estimate to be at the neighborhood of about 290 and 350 million dollars, but the facility upgrade if completed will make the terminal more profitable. It is for this singular reason that Total has agreed to sell this terminal to Perenco. 

“It is an operation that is essentially industrial because it makes it possible to group volumes from an operator that is the largest in Gabon. This consolidation of volumes gives an operational capacity that makes it possible to significantly improve the terminal’s revenues, which will then be reinvested in its modernization and sustainability. So, it was legitimate for the operator that brings more volume to this Terminal in Cap Lopez to operate it,” explained StéphaneBassene, CEO of Total Gabon.

The Cap Lopez terminal was built and inaugurated by Total in 1957 with the aim of receiving, storing and evacuating operated and non-operated oil production. In recent years, these facilities have evacuated nearly 70% of Gabon’s total production, it is learned. Its storage capacity is now 640,000 m³.