Maurel & Prom S.A.
Maurel & Prom is a French independent oil and gas company with a long trading heritage, focused on exploration and production in Africa and other international basins.
Last updated October 14, 2026
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Overview
Maurel & Prom S.A. is a French independent oil and gas company listed on Euronext Paris under the ticker MAU. Its origins trace back to 1831, when Jean-Baptiste Maurel and Jules Prom founded a trading house that became one of France's oldest continuously operating commercial enterprises. Over the 19th and 20th centuries the firm evolved from colonial-era trading and shipping into a diversified industrial group, and in the late 20th century it repositioned itself as an upstream oil and gas player. Today Maurel & Prom is primarily engaged in the exploration, development and production of crude oil and natural gas. Its core producing asset is in Gabon, where it operates the Ezanga permit and holds a long-standing position; it also has interests in Tanzania, Nigeria, Italy, Myanmar, Colombia and Canada. The company's business model combines operated and non-operated stakes, with a strategy of acquiring mature fields and applying technical and operational improvements to boost recovery. Maurel & Prom is headquartered in Paris and is listed on Euronext Paris. It has been associated with the French state-backed investment group Bpifrance and, at times, with other strategic shareholders. The company's dual identity — a nearly two-century-old French trading name reborn as a modern African-focused E&P operator — makes it distinctive among European independents. Its portfolio spans conventional oil and gas production, and it has also pursued gas monetisation projects, notably in Tanzania. Like other independents, Maurel & Prom is exposed to commodity price cycles, political risk in host countries, and the global energy transition. It continues to pursue acquisitions and farm-in opportunities to replenish reserves and sustain production.
History
Maurel & Prom was founded in 1831 by Jean-Baptiste Maurel and Jules Prom as a trading house in France. It grew into one of the country's oldest commercial enterprises, involved in colonial trade, shipping and diversified industrial activities across Africa and beyond. For much of its history it operated as a general trading and industrial conglomerate. In the late 20th century the company underwent a strategic transformation, exiting many legacy businesses and refocusing on the upstream oil and gas sector. It established a significant position in Gabon, where it became an operator of producing fields, and expanded into other African and international jurisdictions including Tanzania, Nigeria, Italy, Myanmar, Colombia and Canada. Maurel & Prom listed on Euronext Paris and became known as a mid-sized independent E&P company. It pursued acquisitions of mature assets and farm-in agreements to build reserves. The French state-backed investment group Bpifrance became a notable shareholder at various points, reflecting the company's strategic importance. The company has also pursued gas monetisation, particularly in Tanzania, where it holds interests in gas discoveries. Its Gabon operations remain central to production and cash flow. Over the years Maurel & Prom has navigated commodity price volatility, political changes in host countries, and the broader energy transition, while maintaining its identity as a French independent with a deep African footprint.
- 2000
Repositioned as an upstream oil and gas company listed on Euronext Paris.
- 1831
Founded as a trading house by Jean-Baptiste Maurel and Jules Prom.
Products and positioning
Independent upstream oil and gas operator with a historic French trading heritage, focused on African and international production assets.
Crude oil
Natural gas
Recent events
- Unconfirmed
Heirs Energies acquires Maurel & Prom's 20.07% stake in Seplat Energy for $500m[2]
Heirs Energies acquired the entire 20.07% equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc at GBP3.05 per share, valuing the transaction at approximately $500 million. The deal was supported by Afreximbank and the Africa Finance Corporation.
- Unconfirmed
Heirs Energies acquires Maurel & Prom's 20.07% stake in Seplat Energy[3]
Heirs Energies acquired Maurel & Prom SA's entire 20.07% equity stake in Seplat Energy Plc at GBP3.05 per share, in a transaction worth approximately US$500mn, supported by Afreximbank and AFC.
Heirs Energies acquires 20.07% stake in Seplat Energy from Maurel & Prom for $500m[4]
Reported:
Heirs Energies, owned by Tony Elumelu, acquired the entire 20.07% equity stake previously held by Maurel & Prom S.A. in Seplat Energy Plc for 305 pence per share, valuing the transaction at approximately US$500 million. The acquisition of 120.4 million ordinary shares was announced on December 31, 2025, by Maurel & Prom and was supported by Afreximbank and AFC.
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