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
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
23 July 2025
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector
23 July 2025
Gas is unlikely to assume a major role in Albania’s energy mix for years to come, but two priority projects are making headway and helping to establish the sector
22 July 2025
The gas-hungry sector is set for rapid growth, and oil majors and some of the world’s largest LNG firms are investing in ammonia production and export facilities, though much depends on regulatory support
