Maurel & Prom Acquires Oil License in Gabon

Maurel & Prom will acquire four licenses in Gabon with combined proven and probable reserves of 27 million barrels of oil for a price of EUR 72 million.

Maurel & Prom said it will become operator of the M'Bindji, Ofoubou, MT2000 and Kari permits through the acquisition of South African rival Rockover Oil & Gas.

The acquisition is part of the company's strategy to diversify its production base. The acquisition will help lower its relative exposure to Congo, from which it drew 86% of its production this year.
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