M&P Receives a Specific License From the OFAC in Relation to Its Operations in Venezuela
06 Maggio 2024 - 7:30AM
Business Wire
Regulatory News:
Etablissements Maurel & Prom S.A. (Paris:MAU) (“M&P”,
“the Group”) announces it has received a specific license it had
applied for on 1 September 2023 from the U.S. Treasury Department’s
Office of Foreign Assets Control (“OFAC”) in relation to its 40%
consolidated interest in the mixed company Petroregional del Lago
(“PRDL”), which operates the Urdaneta Oeste field in Lake Maracaibo
in Venezuela (the “Specific License”).
The Specific License granted on 3 May 2024 allows U.S. entities
and banks to engage with M&P with regards to its activities in
Venezuela, and as a result, M&P will be able to continue
operating pursuant to the set of agreements signed with Petróleos
de Venezuela, S.A. (“PdVSA”) on 7 November 2023. The Specific
License’s current term expires on 31 May 2026, and M&P expects
it will be renewed.
Olivier de Langavant, Chief Executive Officer of M&P, said:
“This is excellent news for M&P, as it gives us clear
visibility for the future. The Urdaneta Oeste field is a great
asset with substantial potential, and this license will allow us to
develop it in a planned and responsible manner.”
For more information, please visit www.maureletprom.fr/en/
This document may contain forecasts regarding
the financial position, results, business and industrial strategy
of Maurel & Prom. By nature, forecasts contain risks and
uncertainties to the extent that they are based on events or
circumstances that may or may not happen in the future. These
forecasts are based on assumptions we believe to be reasonable, but
which may prove to be incorrect and which depend on a number of
risk factors, such as fluctuations in crude oil prices, changes in
exchange rates, uncertainties related to the valuation of our oil
reserves, actual rates of oil production and the related costs,
operational problems, political stability, legislative or
regulatory reforms, or even wars, terrorism and sabotage.
Maurel & Prom is listed for trading on
Euronext Paris SBF 120 – CAC Mid 60 – CAC Mid & Small – CAC
All-Tradable – Eligible PEA-PME and SRD Isin FR0000051070 /
Bloomberg MAU.FP / Reuters MAUP.PA
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Maurel & Prom Press, shareholder and investor
relations Tel: +33 (0)1 53 83 16 45 ir@maureletprom.fr
NewCap Financial communications and investor
relations/Media relations Louis-Victor Delouvrier/Nicolas Merigeau
Tel: +33 (0)1 44 71 98 53/+33 (0)1 44 71 94 98
maureletprom@newcap.eu
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