Maurel & Prom: FY sales up 14%

(CercleFinance.com) - Maurel & Prom has posted FY 2017 sales of 400 million dollars, or 355 million euros, up 14%, thanks to the strong rise in oil prices and despite a drop in the production of oil in Gabon over the period.


The average sale price amounts to 53 dollars a barrel over 2017, up 24%. The group has also announced an increase in demand for gas in Tanzania, resulting in an average production of 49.1 Mpc/d to 100%, up 14%.

Regarding the share of the oil Group's reserves at 31 December 2017, Maurel & Prom announced gross P1 + P2 (P2) reserves amounting to 215 million boe at 31 December 2017, equivalent to 195 million boe net of royalties.


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