Maurel & Prom to acquire oil company Assala Energy to strengthen its position in Gabon

Maurel & Prom strengthens its presence in the Gabonese oil industry with the acquisition of Assala Energy for $730 million, extending its operational reach in the region.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

French hydrocarbon producer Maurel & Prom announces the purchase of oil company Assala Energy for $730 million. This acquisition strengthens the Group’s position in Gabon.

Maurel & Prom acquires Assala Energy for $730 million

The French company announced in mid-June that it had entered into “advanced discussions”, without disclosing the amount of the transaction. Maurel & Prom will acquire 100% of the shares of Assala Energy Holdings and all its subsidiaries in Gabon from the international investment company Carlyle.

Assala is a +onshore active+ oil company in Gabon, “which has become one of the leading independent oil exploration and production companies in West Africa”, with production of around 45,000 barrels per day in 2022, Carlyle pointed out in a separate statement.

Maurel & Prom claims to be financing the $730 million acquisition with low-cost debt.

Business complementarity and prospects after the acquisition

The Group plans to finalize the transaction between the fourth quarter of 2023 and the first quarter of 2024.

Assala’s assets are complementary to Maurel & Prom’s activities in Gabon, argues the French producer: “The transport and storage infrastructures acquired include the Gamba oil terminal and the pipelines connected to it, which will enable Maurel & Prom to control the transport and distribution of all its production in the country”, stresses the group.

At the end of 2022, Maurel & Prom employed a total of 707 people, 90% of them in Africa, while Assala Energy had 520 employees.

Prolonged attacks on fuel convoys have depleted stocks, destabilised power generation and disrupted economic activity in Bamako and surrounding regions.
Nigerian group Dangote has reduced crude supply to its refinery, citing a strategic adjustment to high oil prices and denying any technical failure.
Reliance Industries reported a 9.67% increase in net profit in the second quarter of fiscal year 2025–2026, driven by recovering petrochemical margins and continued growth in its retail and telecom operations.
An operational fire was contained at the largest refinery in the US Midwest, causing a temporary shutdown of several processing units, according to industry data.
The European Commission imposes new rules requiring proof of refined crude origin and excludes the use of mass-balancing to circumvent the Russian oil ban.
The Dutch Supreme Court has rejected Russia's final appeal, confirming a record $50bn compensation to former Yukos shareholders, ending two decades of legal battle.
A ruling by Namibia's High Court upheld the media regulator’s decision that the state broadcaster NBC failed to ensure balance in its coverage of ReconAfrica’s oil operations.
The Canadian oilfield services provider announced a $75mn private placement of 6.875% senior unsecured notes to refinance bank debt and support operations.
Commercial crude reserves in the United States posted an unexpected increase, reaching their highest level in over a month due to a marked slowdown in refinery activity.
Beijing calls Donald Trump's request to stop importing Russian crude interference, denouncing economic coercion and defending what it calls legitimate trade with Moscow.
India faces mounting pressure from the United States over its purchases of Russian oil, as Donald Trump claims Prime Minister Narendra Modi pledged to halt them.
Three Crown Petroleum has started production from its Irvine 1NH well and plans two new wells in Wyoming, marking a notable acceleration of its deployment programme in the Powder River Basin through 2026.
The International Monetary Fund expects oil prices to weaken due to sluggish global demand growth and the impact of US trade policies.
With lawsuits multiplying against oil majors, Republican lawmakers are seeking to establish federal immunity to block legal actions tied to environmental damage.
The United Kingdom targets two Russian oil majors, Asian ports and dozens of vessels in a new wave of sanctions aimed at disrupting Moscow's hydrocarbon exports.
Major global oil traders anticipate a continued decline in Brent prices, citing the fading geopolitical premium and rising supply, particularly from non-OPEC producers.
Canadian company Petro-Victory Energy Corp. has secured a $300,000 unsecured loan at a 14% annual rate, including 600,000 warrants granted to a lender connected to its board of directors.
Cenovus Energy has purchased over 21.7 million common shares of MEG Energy, representing 8.5% of its capital, as part of its ongoing acquisition strategy in Canada.
In September 2025, French road fuel consumption rose by 3%, driven by a rebound in unleaded fuels, while overall energy petroleum product consumption fell by 1.8% year-on-year.
Société Ivoirienne de Raffinage receives major funding to upgrade facilities and produce diesel fuel in line with ECOWAS standards, with commissioning expected by 2029.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.