Maurel & Prom Gabon - Gabon has granted oil prospecting licence to the France-based firm Maurel & Prom for the exploitation of an area covering 6,100 square metres, the firm said in a statement issued here Tuesday.
'Maurel and Prom- Gabon SA has been granted exclusive operation licence for 20 years renewable,' it said, pointing out that the Gabonese state would receive 20 percent of the production.
According to the statement, the turnover of Maurel Prom Gabon soared by 21 percent in 2013, reaching an estimated 572.6 million euros due notably to the rise of the country’s national production.
Maurel and Prom - Gabon ranks fifth in terms of oil production in Gabon, behind Shell-Gabon, Total- Gabon, Perenco and Addax Petroleum/Sinopec, with an average production of 21,998 barrels per day.
The company, which is based in Port-Gentil, Gabon’s second largest city and the country’s oil capital, has five exclusive oil exploitation permits.