Maurel & Prom has announced the signing of an agreement with Azule Energy for the joint acquisition of a 20% interest in Block 14 (with a 10% net share for M&P) and a 10% stake in Block 14K (with a 5% net share for M&P), both located offshore Angola.
Block 14 is a mature deepwater oil asset operated by Chevron, currently producing approximately 40,000 barrels per day (100% basis, or about 4,000 barrels per day net for the interest acquired by M&P) from nine fields.
Block 14K is a joint development between Angola and the Republic of the Congo, connected to the existing infrastructure of Block 14, with production of around 2,000 barrels per day (100% basis, or roughly 100 barrels per day net for the interest acquired by M&P).
The completion of these joint transactions, expected by mid-2026, remains subject to required regulatory approvals, a number of customary conditions precedent, and the exercise of applicable pre-emption rights.
