Maurel & Prom: Update on activities in Gabon

PARIS--(BUSINESS WIRE)--Regulatory News:

The Maurel & Prom Group (“M&P”) (Paris:MAU) confirms discussions were held last week between the management of M&P Gabon and the representatives of local communities around the Ezanga permits following their demands in terms of employment and economic benefits.

These discussions took place with the support of the Gabonese authorities and quickly resulted in an agreement whereby expansions of existing ESG programmes will be reviewed and proposed in the upcoming weeks.

It is worth highlighting that production was not affected at any time.

Separately, the approval process for the acquisition of Assala is currently underway with the Ministries of Oil and Economy of Gabon, as well as with CEMAC.

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This document may contain forecasts regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forecasts 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 forecasts are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which 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 the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

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