Maurel & Prom: Q1 sales up 15%

(CercleFinance.com) - Maurel & Prom has reported Q1 sales of 104 million euros, up 15% y-o-y, with a sharp 26% rise in the average selling price of oil produced in Gabon (66.
3 dollars per barrel).

Relative to Q4 2017, excluding the positive impact from the rising price of crude oil, the oil group announced flat production in Gabon (-1%) and a sharp increase in Tanzania (+24%).

In order to offset the natural depletion of oil fields, in 2018 Maurel & Prom has resumed its drilling activities, which the group interrupted in 2015. The work schedule includes wells for development and three side-tracks.


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