Maurel & Prom : End of the Anticosti project in Quebec
(Thomson Reuters ONE) -
Paris, 28 July 2017
No. 16-17
End of the Anticosti project in Quebec
The Government of Quebec has informed Saint-Aubin Energie, a wholly owned
subsidiary of Maurel & Prom, of its intention to withdraw the territory of
Anticosti Island, for which exploration permits had been granted, from all
future hydrocarbon or underground reservoir exploration.
Consequently, the Government of Quebec and Saint-Aubin Energie signed an
agreement on 27 July 2017 regarding the decommissioning of exploration
activities of Saint-Aubin Energie on Anticosti Island. Other oil operators on
Anticosti Island have also agreed on such agreements.
The end of operations and the exploration programm were negotiated in exchange
for financial compensation of $CAN 16.2 million for Saint-Aubin Energie, which
holds 21.7% interest in the project on Anticosti Island.
Maurel & Prom still has one business in Canada through the Sawn Lake project in
Alberta.
The financial compensation will be allocated to the search for new assets in
production in order to develop the Group's asset portfolio, particularly in
Latin America and Africa.
For more information, visit www.maureletprom.fr
MAUREL & PROM
Tel: +33 (0)1 53 83 16 00
Press, shareholder and investor relations
Tel: +33 (0)1 53 83 16 45
ir(at)maureletprom.fr
This document may contain forward-looking statements regarding the financial
position, results, business and industrial strategy of Maurel & Prom. By nature,
forward-looking statements 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 projections 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
ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
ANTICOSTI_MAU_280717_EN.pdf:
http://hugin.info/155421/R/2124144/810474.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maurel & Prom via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 28.07.2017 - 17:44 Uhr
Sprache: Deutsch
News-ID 554406
Anzahl Zeichen: 3377
contact information:
Town:
Paris
Kategorie:
Business News
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