Maurel & Prom to Acquire Key Gas Asset in Colombia

On January 20, 2025, Maurel & Prom (M&P) announced the signing of a letter of intent to acquire a 40% operating interest in the Sinu-9 gas licence in Colombia. The acquisition of this strategically located asset in the Sinu San Jacinto basin is valued at $150 million, with an effective date of February 1, 2025.

Sinu-9, connected to the Promigas pipeline, achieved its first gas output in November 2024. With existing infrastructure, it can produce up to 40 mmcfd, and future developments aim to increase production. The area boasts verified reserves with significant exploration potential, presenting a lucrative opportunity given Colombia's domestic gas supply shortfalls and rising gas prices.

This acquisition marks a strategic expansion for M&P in Colombia, leveraging 20 years of local experience while ensuring revenue diversification. The transaction is subject to regulatory approvals and completion of a definitive agreement.