French player grabs up oil and gas assets in Gabon

LIBREVILLE, August 16, 2023 – Maurel & Prom has agreed to purchase Gabon-focused oil and gas entity Assala Energy for USD 730 million, the French multinational oil company announced on Tuesday.

The acquisition will allow Maurel & Prom access to the Gamba oil export terminal and a pipeline of other developments.

The deal is expected to close in Q1 2024.

Assala Energy currently produces around 45,000 boepd and has increased its oil and gas reserves by 160% since 2017.

The company is currently owned by Carlyle International Energy Partners, the multinational energy arm of US private equity firm Carlyle Group.

The group acquired Assala Energy from Shell in 2017 for USD 628 million.

The recent purchase follows Carlyle Group’s decision to sell Neptune Energy for USD 4.9 billion to Italian energy giant Eni and Vår Energi in June 2023.

Maurel & Prom owns and operates oil and gas assets in Africa, Europe and Latin America, including three licences in Gabon.

The company produced an average of 27,400 boepd in H1 2023.

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