Maurel & Prom authorized to operate in Venezuela under the new GL 50A license

Maurel & Prom SA (M&P) has been included in General License 50A issued by the U.S. Treasury's Office of Foreign Assets Control (OFAC). This license allows M&P to conduct oil and gas transactions in Venezuela, under agreements governed by U.S. law.

The license allows for the resumption of oil operations with the Government of Venezuela and Petróleos de Venezuela SA (PdVSA). It requires that payments be made in accordance with the mechanisms specified by the U.S. authorities. This development provides a stable framework for M&P's operations at the Urdaneta Oeste field, in partnership with Petroregional del Lago, where gross production was 21,000 b/d in January 2026.

Olivier de Langavant, Managing Director of M&P, emphasized the importance of this step for the group, enabling sustainable growth in the Venezuelan oil sector.