Maurel & Prom notes the signing on 15 February 2024 of a share purchase agreement ('SPA') between the Gabonese national oil company Gabon Oil Company ('GOC') and Assala Energy Investments ('Carlyle') regarding GOC’s acquisition of Assala Energy Holdings and all of its subsidiaries. This signing has occurred in the context of GOC’s sovereign right of pre-emption and supersedes the SPA signed by M&P and Carlyle on 15 August 2023.
M&P confirms and reiterates its wish to remain a trusted partner of the Republic of Gabon, as evidenced by its presence and its projects in the country for nearly 20 years now.
The M&P Group is in a very healthy financial position, with an expected net cash position at the end of March 2024 (approximately $270 million in cash and cash available, versus $266 million in gross debt), and significant borrowing capacity.
M&P is currently in an important development phase, marked in particular by the ongoing restart of its activities in Venezuela.
Source: Maurel & Prom
