Gabon production cuts hit Maurel

Gabon production cuts hit Maurel

Maurel et Prom’s production fell in the first nine months of 2020, although its acquisition of Angolan assets helped avoid too great a reduction.

Gabonese production was down 14%, at 17,500 barrels per day, while its Tanzanian gas output was down 17%, at 29.7 million cubic feet per day. Maurel reported 4,002 bpd from Angola, which it bought in late 2019.

Group production was 26,458 boepd in the nine months, down from 26,880 boepd in 2019. Prices also fell in the period. The average sales price was $37.8 per barrel, versus $67.4 per barrel in the 2019 period. This is a fall of 44%.

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Source: EnergyVoice

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