Maurel & Prom hoping to expand its Tanzanian portfolio
Tanzania to see upstream consolidation
French independent Maurel & Prom is seeking to expand its Tanzanian portfolio
Euronext-listed Maurel & Prom and AIM-listed independent Wentworth Resources have reached an agreement for the former to acquire all the latter’s shares. Wentworth is recommending its shareholders accept M&P’s offer of 32.5p per share for a deal valued at around £61.7mn ($75.2mn), up from a previous offer made back in September. The two firms are already partners in the Mnazi Bay gas project in Tanzania, where they have an established relationship. M&P is the operator with a 48.06pc stake, Wentworth holds 31.94pc and state-owned Tanzania Petroleum Development Corporation has the remaining 20pc. “Increasing our stake through the acquisition of Wentworth is a logical step and
Also in this section
13 January 2026
Across Europe, countries have grappled with balancing ambitious energy transition plans with realities about security of supply
13 January 2026
The country’s hydrocarbon resources offer a strategic and social opportunity that could see it becoming a leading light in Africa
13 January 2026
Government reforms are restoring investor confidence in the country’s oil and gas industry
12 January 2026
Gulf Keystone looks to a ‘transformational’ 2026, with the oil producer upbeat for the region should all the vested interests keep their eyes on the prize
