M&P included in OFAC’s General License 50A related to Venezuela

Etablissements Maurel & Prom S.A. (“M&P”, the “Group”) is pleased to announce that it has been included in General License 50A (“GL 50A”) issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) on 18 February 2026. GL 50A replaces and supersedes GL 50 in its entirety and expressly lists M&P among the limited number of authorised entities.

GL 50A authorises the entities listed in its annex, including M&P, to engage in transactions otherwise prohibited under the Venezuela Sanctions Regulations relating to oil and gas operations. In practical terms, GL 50A:

• Allows M&P to resume and conduct oil and gas operations in Venezuela, including transactions involving the Government of Venezuela and Petróleos de Venezuela S.A. (“PdVSA”) entities;
• Requires M&P to amend its agreements with PdVSA to be governed by U.S. law and dispute resolution within the U.S.;
• Requires payments (including taxes and royalties) to the Government of Venezuela or PdVSA to be made in accordance with the mechanisms specified by U.S. authorities.