Page 16 - LatAmOil Week 08 2023

LatAmOil NEWS IN BRIEF LatAmOil

PIPELINES & TRANSPORT
Equinor sells oil terminal

in the Bahamas

Equinor has entered into an agreement with
Liwathon for the sale of the Equinor South
Riding Point oil terminal at the Grand Bahama
Island in the Bahamas.
The terminal was purchased by Equinor in
2009 to enable the company to trade oil primar-
ily originating from the American markets.
“Since we bought the South Riding Point ter-
minal in 2009, the flow in the oil market in North
America has changed significantly for Equinor
and the company has increasingly sold crude to Cash Flow of $129mn, Highest on Record. through share buybacks.
other regions globally. Consequently, we believe Achieved 2022 Average Working Interest “In addition, our ‘Beyond Compliance Pol-
a new owner would be better positioned for Production of 30,746 bpd of oil, Up 16% from icy’ continues. Where Gran Tierra identifies
the further development of the terminal,” says 2021. Total Current Average Working Interest significant opportunities and benefits to the
Alex Grant, Equinor’s senior vice president for Production of Approximately 32,300 bpd of oil. environment and communities, we voluntar-
Crude, Products and Liquids. “This transaction Achieved 126% 1P, 148% 2P and 280% 3P ily strive to go beyond what is legally required
supports our strategy to focus and concentrate Reserves Replacement. 1P Net Asset Value per to protect the environment and provide social
the portfolio around core areas and allows us Share Before Tax of $4.62, Up 77% from 2021. benefits because it is the right thing to do. We are
to redeploy capital where we believe we have a 2P Net Asset Value per Share Before Tax of $7.36, very proud of the Company’s track record in all
stronger competitive advantage. Liwathon will Up 56% from 2021. ESG Leadership: Company aspects of our environmental, social and govern-
now take over ownership and commence a pro- Has Planted Approximately 1.47mn Trees in ance stewardship.”
cess to restart regular operations of the South Colombia’s Putumayo Since 2018. Gran Tierra Energy, 21 February 2023
Riding Point terminal.” Message to Shareholders – Gary Guidry, Pres-
Liwathon will assume the responsibilities for ident and Chief Executive Officer of Gran Tierra,
the employees of South Riding Point. The trans- commented: “We are very pleased to announce POLICY
action is approved by Bahamian authorities. Fur- that Gran Tierra achieved several Company
ther commercial details on the transaction will financial records in 2022. Our excellent per- Petrobras reports on
not be disclosed. formance last year was driven by our successful
Liwathon Group is an integrated logistics results from our development and exploration nominations for seats
and investment business. The company cur- drilling, waterflooding programmes, field per-
rently operates four facilities in Estonia with a formance and disciplined cost management on Executive Board
storage capacity of over 1mn cubic metres. The combined with strong oil prices. Our many 2022
company provides an extensive range of services achievements resulted in year-over-year produc- Petrobras informs that its CEO Jean Paul Terra
in the area of handling, transport and storage of tion growth of 16%, strong reserves replacement Prates has indicated 2 new members for the
liquid fuels traded globally. ratios well above 100%, and the highest annual composition of the Executive Board: Chief
Equinor, 21 February 2023 figures in the Company’s history for net income, Institutional Relations and Sustainability Officer,
funds flow from operations and free cash flow. Clarice Coppetti; Chief Financial and Investor
We believe our success on multiple fronts during Relations Officer, Sergio Caetano Leite.
PERFORMANCE 2022 demonstrates Gran Tierra’s ability to be a The nominations will be submitted to the
full-cycle oil and gas exploration, development internal procedures of corporate governance,
Colombia/Ecuador: Gran and production company focused on value cre- including the compliance and integrity analy-
ses required for the company’s succession pro-
ation for our stakeholders.
Tierra Energy announces to-date average production of approximately appreciation and then to the Board of Directors
cess, forwarded to the Personnel Committee for
“We have started 2023 strong with year-
Q4 2022, year-end results 32,300 bpd of oil, which is within our previously for deliberation.
Clarice Coppetti has a degree in Account-
announced 2023 guidance range. Our 2023
Gran Tierra Energy has announced the Compa- Acordionero and Costayaco development drill- ing and Economic Sciences. She has a post-
ny’s financial and operating results for the fourth ing programmes are now underway, while the graduate degree in Strategic Information
quarter and year ended December 31, 2022. Moqueta development drilling campaign that Technology Management from FGV and a
Achieved 2022 Net Income of $139mn ($0.38 we started in fourth quarter 2022 is continuing. postgraduate degree in Forensic and Banking
per Share, Basic), Highest on Record. 2022 We continue to focus on the development of our Law from UniBF/Ibcappa. She was Commercial
Funds Flow from Operations Increased 96% existing assets, appraisal of new discoveries that Director of Companhia de Processamento de
Year-Over-Year to $366mn, Highest on Record. we made last year and new exploration drilling, Dados do Estado do Rio Grande do Sul (PRO-
2022 Adjusted EBITDA2 Increased 103% Year- while generating free cash flow to strengthen our CERGS) and was Vice-President of Information
Over-Year to $490mn. Generated 2022 Free balance sheet and return capital to shareholders Technology at CAIXA Econômica Federal.

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