**_ French oil and gas operator Maurel & Prom has finalized its acquisition of a 61% working interest and operatorship in the Sinu-9 gas permit in Colombia, marking a significant expansion into Latin America’s natural gas sector. The deal, closed on January 5, 2026, positions the company to ramp up production in a prolific basin, with current output at 21 million cubic feet per day and plans to reach 40 mmcfd by mid-2026, bolstering regional energy supply amid growing demand. _**
Deal Completion and Strategic Implications
Maurel & Prom, the Paris-listed independent explorer and producer, has successfully closed its dual transactions to secure a controlling 61% stake in the onshore Sinu-9 block located in Colombia’s Lower Magdalena Valley basin. The acquisition transforms the company into the block’s operator, enabling direct oversight of development and exploration activities in one of the country’s most promising gas regions.
The transactions involved purchasing a 40% interest from a subsidiary of NG Energy International Corp. and an additional 21% from minority partners, for a combined consideration of approximately $229 million. This move follows regulatory approval from Colombia’s National Hydrocarbons Agency late last year and underscores Maurel & Prom’s strategy to diversify its portfolio beyond traditional oil assets in Africa and toward high-potential gas plays in stable jurisdictions.
CEO Olivier de Langavant highlighted the milestone as the start of a new chapter for the company in Colombia, where it aims to leverage its operational expertise to maximize the block’s value while supporting national energy needs.
Asset Overview and Production Potential
The Sinu-9 block, spanning roughly 1,260 square kilometers in the Córdoba department near Colombia’s Caribbean coast, is already producing natural gas. First production commenced in November 2024 through long-term testing of the Magico-1X and Brujo-1X wells.
Current gross production stands at about 21 million cubic feet per day (mmcfd), equivalent to roughly 13 mmcfd net to the newly acquired 61% interest. Infrastructure supports evacuation up to 30 mmcfd currently, with expansions underway to handle 40 mmcfd (24 mmcfd net) by the second quarter of 2026.
The block benefits from proximity to established infrastructure, including direct access to the Promigas pipeline network—the primary natural gas trunk line in northern Colombia—at the Jobo connection point. An environmental license allows drilling up to 22 wells from 11 pads, providing ample room for growth.
Key Asset Metrics
| Metric | Details |
|---|---|
| Location | Lower Magdalena Valley, Córdoba, Colombia |
| Block Size | ~1,260 sq km |
| Current Gross Production | 21 mmcfd |
| Net Production (61% WI) | ~13 mmcfd |
| Near-Term Capacity Target | 40 mmcfd gross by Q2 2026 |
| Pipeline Access | Promigas via Jobo |
| Drilling License | Up to 22 wells from 11 locations |
Exploration upside remains substantial, with multiple prospects identified for drilling over the next 18 months. The basin hosts several producing fields operated by majors, indicating strong geological potential for resource additions.
Maurel & Prom retains an option to purchase an extra 5% interest from NG Energy within the next 12 months for $18.75 million, potentially raising its stake to 66%.
Market Reaction and Broader Context
Shares of Maurel & Prom reacted positively to the closure announcement, climbing over 7% in early trading to around €6.10 on Euronext Paris, reflecting investor optimism about the accretive nature of the deal and its contribution to near-term cash flow growth.
This acquisition aligns with rising natural gas demand in Latin America, where Colombia seeks to enhance domestic supply and reduce import reliance. For U.S. investors tracking international energy plays, Maurel & Prom’s move adds exposure to a undervalued gas asset in a geopolitically stable environment, complementing its core operations in Gabon, Tanzania, and Angola.
The company is poised to initiate a six-well exploration campaign shortly, further de-risking and expanding the resource base in Sinu-9.
Disclaimer: This article is for informational purposes only and does not constitute investment advice, recommendations, or tips. All data is based on publicly available reports.