Maurel & Prom acquires oil interests in Angola

Maurel & Prom has announced the signing of an agreement to acquire a stake in Blocks 14 and 14K offshore Angola. In cooperation with BW Energy, the group is acquiring a net 10% interest in Block 14 and a net 5% interest in Block 14K from Azule Energy. Block 14, located in deep water, is operated by Chevron, producing approximately 40,000 barrels per day (b/d). Block 14K, in partnership with the Congo, produces approximately 2,000 b/d. This transaction, valued at $195 million, is subject to several regulatory approvals before its expected completion in mid-2026.

Olivier de Langavant of M&P emphasizes that this acquisition strengthens their presence in Angola, where the company already owns several assets. This development is part of a strategic partnership with BW Energy, aimed at maximizing the potential of the resources.

Block 14 boasts a robust infrastructure and growth prospects thanks to significant reserves and contingent resources. The blocks offer opportunities for future development and benefit from favorable tax conditions.