Maurel & Prom is an oil company specialising in the production of hydrocarbons. It is listed on Euronext Paris and has its registered office in Paris.
The Group generates most of its business in Africa through the exploitation of onshore production assets (in Gabon and Tanzania) and a significant stake in SEPLAT, one of Nigeria’s leading indigenous operators.
History
Historically, Maurel & Prom was based in Bordeaux and was one of France's largest family-run shipping and foreign trade houses. It had trading interests throughout the French colonial empire, which included trading houses in Saint-Louis, Senegal, and modern Guinea, Gambia, Mali and Ivory Coast. The company changed its focus to agribusiness in 1986. It pivoted to oil exploration and production in 1998.[1]
Since 16 February 2017 Maurel & Prom has been backed by PIEP, a subsidiary of the Indonesian state oil company Pertamina, and aims to become the international development platform for the upstream activities of Pertamina and PIEP.
In January 2019, the company, after having finalized the previous month the takeover of a 40% stake held by Shell in the joint company Petroregional del Lago, the company which exploits the Urdaneta West oil field, located on Lake Maracaibo (Venezuela), announces that it wants to co-finance an investment project of 400 million dollars (350 million euros) to develop the production of this joint company.