Orrick advises Maurel & Prom on renewal of Gabon licenses and renegotiation of PSA
Posted on :Wednesday , 10th September 2014
Orrick Rambaud Martel has advised Établissements Maurel & Prom, one of France’s largest oil companies, on the renewal of its seven exclusive exploitation and development licenses in Gabon covering 6,100 km and on the renegotiation of the related production sharing contract with the Government.
The Gabonese State and Maurel & Prom S.A., the Gabonese subsidiary of the French oil & gas exploration company listed on the Paris Stock Exchange, have concluded a new production sharing contract called “Ezanga”, replacing the previous “Omoueyi” contract. The new contract meets the development objectives of the Gabonese oil and gas sector while protecting, for an additional 20-year period, Maurel & Prom’s rights to assets that represent 85 percent of the value of the company.
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