Maurel & Prom Reports 4% Increase in First Nine Months Production for 2025

Maurel & Prom (M&P) reported a 4% increase in total working interest production for the first nine months of 2025, reaching 37,749 barrels of oil equivalent per day (boepd). While Gabon's production decreased by 3%, significant growth was seen in Venezuela with a 41% increase. Meanwhile, Angola and Tanzania experienced minor fluctuations, with a 2% increase and 4% decrease, respectively.

The average oil price dropped to $70.6 per barrel, reflecting a 15% decrease compared to 2024. Despite this, sales reached $489 million, driven by third-party oil trading contributing $102 million. Service activities added $11 million to sales.

M&P's acquisition of a 61% stake in Colombia's Sinu-9 gas permit is set for completion by the end of 2025, pending regulatory approvals. Furthermore, a robust drilling program is planned, including efforts in Gabon, Tanzania, and Colombia aimed at expanding M&P's reserve base.