NG Energy signs deal to sell 40% in key Colombia gas block

BOGOTA, February 13, 2025 – NG Energy has signed a definitive agreement to sell a 40% operating working interest in Colombia’s Sinú-9 block to Maurel & Prom for USD 150 million, the Canadian company said on Monday.

The deal was first reported in January.

Maurel & Prom will assume its share of NG Energy’s carry commitments following the closing of the transaction and will have a 12-month option to increase its working interest by 5% for a cash payment of USD 18.75 million.

Read our latest interview with Jorge Fonseca, CFO of NG Energy, here.

The Sinú-9 project is considered vital for the country’s energy security. It is expected to eventually produce 136 mcf per day, or roughly 14% of Colombia’s current daily gas consumption.

NG Energy began production from the block in November.

“Working closely with the Maurel & Prom team recently has made it ever more clear to me that this partnership will urgently, and sustainably, bear fruit for all stakeholders as we unlock this giant oil and gas concession for all Colombians,” NG Energy chairman and CEO Brian Paes-Braga said in comments on Monday’s news.

“We look forward to informing shareholders of our updated 2025 work program shortly.”

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