EHS-S achievement for M&P Tanzania: 5 years of activity with no recorded LTI

Results for the first half of 2021

In Q2 2020, Caroil set up a specialised training centre in Gabon for drilling, well control and health and safety programs.

In light of the Covid-19 epidemic and in accordance with the provisions of Decree No. 2021-255 of 9 March 2021 extending the implementation period for Order No. 2020-321 of 25 March 2020 adjusting the rules for meetings and deliberations of the shareholders and governing bodies of legal persons and entities without legal personality under private law due to the Covid-19 epidemic, Etablissements Maurel & Prom S.A.’s Combined Ordinary and Extraordinary General Shareholders’ Meeting will be held behind closed doors (à huis clos), i.e. without the physical presence of shareholders, on Tuesday, 18 May 2021 at 3 pm at the Company’s head office located at 51, rue d’Anjou – 75008 Paris, France.

10 April 2021

• M&P working interest production in Q1 2021: 25,240 boepd
  • M&P working interest production of 15,120 bopd on the Ezanga permit in Gabon relatively unchanged from T4 2020, due to the continuation of production cuts related to OPEC quotas
  • Significant increase in gas production in Tanzania, with output of 40.7 mmcfd for M&P’s working interest
  • M&P working interest production of 3,333 bopd in Angola, down sharply due to a planned shutdown for maintenance

• Valued production higher for the quarter at $96 million, thanks to the continued rise in crude oil prices
  • Average sale price of oil $57.3/bbl, up 28% from Q4 2020 ($45.0/bbl)
  • Sales of $85 million after taking into account an $11 million of restatement for lifting imbalances and inventory revaluation (including 13 M$ worth of barrels produced but not sold during the period)

• Solid financial position and preparations for the resumption of development
  • Cash position of $154 million at 31 March 2021

Preparations ongoing to restart development drilling on the Ezanga licence in summer 2021, which will help restore the production potential of the fields


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2020 Universal Registration Document 

On the occasion of the 2020 Full-Year Results, a presentation available via an audio webcast in French with simultaneous translation into English will be organised on the Wednesday March 10, 2021 at 9:30 am with Olivier de Langavant, Chief Executive Officer, and Patrick Deygas, Chief Financial Officer.

This intervention will be followed by a question and answer session.

Key figures 2020

The Board of Directors, having met on 18 January 2021, has co-opted John Anis as a director and appointed him as Chairman of the Board of Directors to replace Aussie Gautama, who wished to step down from his positions.

Happy New Year 2021 !