Maurel & Prom, an oil company based in Paris, has announced it will invest $85 million to develop its activities in Gabon this year after spending $67 million in the African country last year. Maurel CEO Olivier de Langavant indicated that planned investment in Gabon is a chunk of the company’s total 2023 investment put at $100 million. The company is also planning to produce 26,200 barrels of oil equivalent per day this year, of which 15,600 bpd will come from Gabon. In 2022, Gabon produced 14,646 bpd. Maurel began a well-stimulation campaign in the fourth quarter of 2022, finishing in early 2023.

Source: The North Africa Journal March 16, 2023 21:21 UTC