Maurel & Prom Company News

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Gabon Oil Workers To End Strike At Onal Field On Wednesday
Tuesday, October 25, 2016Oil workers will end a strike at French firm Maurel and Prom's Onal field in Gabon.

Indonesia's Pertamina Takes 24.53% Stake in France's Maurel & Prom
Wednesday, August 03, 2016Indonesia's Pertamina acquires France's Maurel & Prom as part of a strategy to enhance its global upstream presence.

Maurel & Prom Makes Deep Cuts as Oil Price Fall Bites
Thursday, January 28, 2016French oil and gas junior Maurel & Prom has cut planned investments for 2016 by 70 percent to $45 million, and its exploration budget by 63 percent, as it reported a 50 percent fall in 2015 revenue.

Maurel & Prom Eyes Further Merger After MPI Deal To Cope With Low Oil Price
Friday, August 28, 2015Maurel & Prom says it was reabsorbing its former Nigerian unit MPI as a first step towards tripling in size to cope with the impact of a plunge in the oil price.

Maurel et Prom Slashes Oil Hunting Budget as Prices Weak
Thursday, March 26, 2015France's Maurel et Prom slashes its exploration budget by more than 60 percent.

Drilling Activity to Rebound in 2016 after Exploration Cuts this Year
Thursday, March 26, 2015Drilling activity across the global oil and gas industry could return to 2014 levels next year, according to a new report from research firm Wood Mackenzie.

Petrovietnam Signs Myanmar Farm-out Agreement
Tuesday, June 04, 2013Petrovietnam Exploration Production Corporation signs agreement to transfer part of its interest in the M2 Mottan Block, offshore Myanmar, to Maurel & Prom.

Maurel & Prom, Pacific Rubiales Bring Wells Online in Colombia
Thursday, January 19, 2012The complementarity of the Maurel & Prom and Pacific Rubiales Energy's skills allowed Maurel & Prom Colombia to bring into production, on December 17, 2011, the Sabanero field's two wells.

Pacific Rubiales, Maurel & Prom Enter JV for Peru Exploration
Wednesday, October 12, 2011Pacific Rubiales has signed a letter of intent with Maurel & Prom pursuant to which the Company has acquired a 50% working interest in the exploration contract for Block 116 located in Peru.

Maurel & Prom Sells Drilling Unit to Tuscany International
Tuesday, June 21, 2011Tuscany Rig Leasing will acquire all of the issued and outstanding shares of Caroil, the drilling and work-over subsidiary of Maurel & Prom.

Pacific Rubiales Acquires Maurel & Prom Stake in Colombia
Thursday, March 31, 2011Pacific Rubiales announced the acquisition of 50% of the interests held by Maurel et Prom in the Sabanero, Muisca, SSJN-9, CPO-17 and COR- 15 blocks, which are all located on-shore in Colombia.

Maurel & Prom Discover Oil in Carbonera Formation
Monday, September 20, 2010Maurel & Prom announced the success of the second exploration well (SAB-SE-1) drilled in the Sabanero permit. The exploration well found 12 API crude oil in the Carbonera C7 formation.

Maurel & Prom Encounters Hydrocarbons at Gabon Field
Thursday, September 16, 2010Maurel & Prom confirmed saturated hydrocarbon intervals at the OMOC-N-301 delineation well southeast of the Onal field.

Maurel & Prom Subsidiary Encounters Heavy Oil in Colombia
Monday, July 26, 2010Maurel & Prom announced that its wholly-owned Colombian subsidiary has encountered a heavy oil bearing reservoir in the Sabanero permit.

Maurel & Prom Bumps Up Production in Africa
Wednesday, May 19, 2010Maurel & Prom updated on the Tanzania, Congo and Gabon production.

Maurel & Prom Highlights Production in West Africa
Thursday, April 22, 2010Maurel & Prom update on production in Nigeria and Gabon.

Maurel & Prom Appoints New Director
Monday, April 12, 2010Maurel & Prom appointed Mr. Ambrosie Bryant Chukwueloka Orjiako (Dr. ABC ORJIAKO) to replace Mr. Alain Gomez, who wished to step down from his duties.

Maurel & Prom Ramp Up Production in Gabon
Monday, March 29, 2010Ramped up by the Onal production center, Maurel & Prom's average total production in Gabon has been 10,720 bopd since the beginning of 2010.

Maurel & Prom IDs Areas of Interest at Mafia Deep Prospect
Wednesday, March 17, 2010Maurel & Prom considers the Mafia Deep well to be a stratigraphic well drilled in a new basin that could be transformed into a commercial well (oil or gas).

Maurel & Prom Extends Oil Field Offshore Gabon
Monday, March 01, 2010Maurel & Prom has discovered an oil accumulation that extends the Kissenda play in the Onal concession offshore Gabon.

Maurel & Prom Moves on from Tie-Tie-NE-1 Onshore Congo
Monday, March 01, 2010The Tie-Tie-NE-1 well reached total depth but is not commercially viable and will be plugged and abandoned.

Maurel & Prom Updates on Drilling Program in Syria
Monday, March 01, 2010Maurel & Prom will plug and abandon the Draco-1 well, which is not commercially viable, and will focus efforts on drilling two wells in the West of the Al Asi license, onshore Syria.

Maurel & Prom Snaps Up Additional Interest in Tanzania
Monday, February 15, 2010Maurel & Prom and Dominion have signed an agreement in principle related to an additional working interest in the Mandawa license and a new carried interest in the Kisangire license.

Maurel & Prom to Abandon M'Bafou Well in the Congo
Friday, February 12, 2010Maurel & Prom will plug and abandon the M'Bafou well, drilled in the Marine III exploration permit in the Congo. The well met its oil targets, but production is not sustainable.

Cove Gets Go-Ahead for Onshore Mozambique Farm-In
Wednesday, December 23, 2009Cove has completed the acquisition of its interest on Rovuma Onshore and has received partner consent for Rovuma Offshore, Mozambique.

Artumas to Complete Final Sale of Tanzanian Interests
Friday, November 27, 2009Artumas has fulfilled all conditions and has received final approval from the Government of Tanzania to complete the sale of a portion of its participating interest in the Mnazi Bay Development License to Maurel & Prom and Cove Energy.

Maurel & Prom Discovers New Oil Reservoirs in Gabon
Friday, November 20, 2009Maurel & Prom reported that the Onal 1002 well has reached a vertical depth of 1,195 meters, and has encountered 82 meters of hydrocarbon-impregnated reservoirs in the Kissenda Sandstone.

Artumas Executes Farm-Out of Tanzanian, Mozambique Assets
Friday, September 18, 2009Artumas has announced the farm-out of its Mnazi Bay Production Sharing Agreement, its Area 1 Offshore Rovuma Block and its Onshore Rovuma Block to Maurel & Prom and Cove Energy.

Maurel & Prom Increases Stake in Operating License Offshore Congo
Wednesday, June 17, 2009Maurel & Prom has signed a memorandum of understanding in order to increase its participating interest in the Marine III operating license in the Congo.

Maurel & Prom Inks Final Agreement for Sale of Hocol Colombia
Thursday, May 28, 2009Maurel & Prom and Ecopetrol signed the definitive agreement concerning the sale of Hocol Colombia.

Maurel & Prom Reports on Gabon Drilling, to Spud Tanzanian Well in August
Friday, May 15, 2009Maurel & Prom has provided an operational update on its ongoing exploration program in Gabon and Tanzania.

Maurel & Prom Reaches TD at Mafia Deep in Tanzania
Monday, April 20, 2009Maurel & Prom reported that the drilling of the Mafia well in Tanzania has reached a depth of 5,437 meters and will be deepened by 100 meters.

Maurel & Prom Makes Gabonese Discovery, Continues Drilling in Tanzania
Monday, March 30, 2009Maurel & Prom has made an oil discovery in the Omoueyi Permit and has noted its objective to continue drilling in Tanzania.

Maurel & Prom Divests Colombian Subsidiary to Ecopetrol for $748MM
Tuesday, March 10, 2009Ecopetrol and Maurel & Prom have reached a $748 million agreement for Ecopetrol's acquisition of Hocol, a company engaged in exploration and production of hydrocarbons in Colombia.

Maurel & Prom Starts Production from Onal in Gabon
Monday, March 09, 2009Maurel & Prom reported that production at the Onal field began on March 9, 2009 with the opening of the first 11 wells on platforms PF-500, PF-700 and PF-900, at an initial provisional rate of 10,000 barrels per day at 100%.

Dominion, Maurel & Prom Spud Mihambia-1 Onshore Tanzania
Friday, January 23, 2009Dominion has commenced drilling the Mihambia-1 exploration well in the central part of the Mandawa PSA, onshore Tanzania.

Maurel & Prom Provides Operations Update
Tuesday, December 23, 2008Maurel & Prom provided an year-end exploration and production overview focusing on projects in Colombia, Gabon, Sicily and Tanzania.

Maurel & Prom Cites Production Increase, Extension of Ocelote Field
Friday, December 05, 2008Maurel & Prom announced the success of appraisal well Ocelote-7, which has confirmed the northern field extension and has tested at 837 bopd.

Maurel & Prom Win 2 Exploration Blocks in Colombia Round
Friday, November 14, 2008Maurel & Prom has signed with the National Hydrocarbon Agency of Colombia two new E&P contracts for Blocks CPO-17 and SSJN-9.

Colombia Auctions Rights to Seek, Produce Oil on 22 Areas
Tuesday, November 11, 2008The Colombian oil licensing agency auctioned rights to seek and produce oil or gas in 22 areas across the country.

New Exploration Success in Gabon, Tanzania for Maurel & Prom
Friday, October 10, 2008Maurel & Prom has issued an operational update for its assets in Gabon, Tanzania and Colombia.

Maurel & Prom Farms-In to Mandawa PSA Onshore Tanzania
Thursday, September 11, 2008Maurel & Prom has reached an agreement with Dominion to farm-in to the Mandawa PSA, onshore Tanzania. Maurel & Prom will assume 50% of the interest in the Mandawa PSA and will cover Dominion's past and forward exploration costs, including two wells.

Dominion Signs Rig Contract for Ops at Mihambia-1 in Tanzania
Monday, September 08, 2008Dominion Oil and Gas signed a contract for a drilling rig for the Mihambia-1 well with Caroil S.A.S., a subsidiary of Maurel & Prom. Mihambia-1 is the Company's first commitment well in Tanzania.

Maurel & Prom Report Accident at Colombian Field
Tuesday, July 22, 2008Maurel & Prom reported on the unfortunate accident that took place at the Ocelote field in Colombia, in which a storage tank exploded and took the lives of three employees.

Maurel & Prom Issues Update on Colombian Wells
Wednesday, July 09, 2008Maurel & Prom issued an update on its Ortega Sur well, which has reached three hydrocarbon bearing intervals from the Caballos and Tetuan Formations in Colombia. Additionally, the Cocli Well was plugged and abandoned.

Maurel & Prom Spies 'Oil-Bearing Level' in Colombia
Wednesday, March 12, 2008Drilling encountered an oil-bearing level in the Caballos formation.

Maurel & Prom Service Agreement Transfers to Lagopetrol
Friday, December 14, 2007Maurel & Prom signed a final agreement with PdVSA on Dec. 12, transferring the service contract from Hocol Venezuela to the Lagopetrol mixed enterprise.

Maurel & Prom Abandon's Doungou-1 Exploration Well
Thursday, October 04, 2007Maurel & Prom's Doungou-1 exploration well on the La Noumbi permit, whose main objective was the Vandji sandstone recervoir, was plugged and abandoned.

Maurel & Prom Names Canel as CEO of Hocol
Wednesday, September 05, 2007Maurel & Prom has appointed Paul-Andre Canel (53, ESCP graduate) as Chief Executive Officer of Hocol, (Bogota, Colombia), a wholly owned subsidiary of Maurel & Prom.

Maurel & Prom Begins Long Duration Test on Banio-2
Wednesday, July 25, 2007Maurel & Prom has begun a long duration test on the Banio-2 well on the Nyanga Mayombe permit in Gabon, bought in February 2005.