Maurel & Prom (“M&P”) delivered a stronger‑than‑expected H1 2025, with production (ex-Venezuela) averaging 29.6kboe/d, up 4 % versus H2’24. Tanzanian gas production rebounded 9% (9.7kboe/d) and Angola production jumped 8 % (4.3kboe/d) more than offsetting a 1% dip at Ezanga (15.5kboe/d). Venezuela contributed 8.2kboe/d (+18% h/h) until the late‑May OFAC licence expiry. Valued production (i.e. sales based on production) was US$261mm, falling in line with the 8% drop in the realised oil price to U ....
