Maurel & Prom : Production restarts in Gabon

Paris, 21 September 2015
 No. 19-15

Production restarts in Gabon

On 4 September 2015, the oil pipeline operator - the Coucal association - informed Maurel & Prom of a force majeure situation disrupting crude oil shipments on the 12-inch section between Coucal and the junction with the 18-inch Rabi Nord oil pipeline.

The leak on this 12-inch pipeline, located 2.5 km from the Coucal facilities, has been repaired and crude shipments were able to gradually resume on Friday 18 September. The pipeline operator has indicated that it has taken the opportunity offered by this work to further strengthen other weak points across the pipeline, which will make it possible to operate the oil pipeline with a higher level of safety than previously.

Production on the Ezanga PSA fields (M&P operator, 80%) resumed on Saturday 19 September. It is currently up to 22,000 barrels and is expected to continue progressing. Maurel & Prom would like to remind you that the current potential production is 29,000 bopd.

Following this incident, talks are underway between the pipeline's various users, the operator and the Gabonese authorities looking at the improvements to be made to this oil transportation network.

In this context, the Maurel & Prom Group has capitalised on this downtime to carry out certain work on Coucal that would enable it to quickly put in place additional exports.

For more information, go to www.maureletprom.fr
MAUREL & PROM
Tel: +33 1 53 83 16 00                                                                       

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This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions that we believe to be reasonable, but that may prove to be incorrect and that depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

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