Maurel et Prom, a French company, has acquired a stake in Colombia's Sinu-9 Gas Field

Maurel et Prom, a French oil and natural gas company, has agreed to increase its ownership stake of Colombia's Sinu-9 field by 21%, for a total cost of $79 million. This is part of its ongoing expansion in Colombia.

Maurel et Prom now owns 61% of the total gas block. The remainder is owned by Canada's NG Energy International.

In a statement to the press, Olivier de Langavant said: "This acquisition consolidates M&P’s long-term exposure in a high quality gas asset with significant development and exploration potential."

In February, the company acquired the initial stake of 40% in the Sinu-9 field. The company holds a call-option for an additional 5% of the field for a payment $18,75 million. This option is valid for 12 month from the date of the original transaction.

Maurel et Prom reported that the latest acquisition was subject to regulatory approvals. This includes Colombia's National Hydrocarbons Agency. It is expected to close in the third quarter 2025. (Reporting from Mateusz Rabiega, Gdansk; editing by Milla Nissi-Prussak).

(source: Reuters)