Maurel & Prom makes new Colombia oil discovery

Mon Feb 12, 2007 1:22am EST
 
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PARIS, Feb 12 (Reuters) - French oil and gas group Maurel & Prom (MAUP.PA)said on Monday that its Hocol subsidiary had made a major oil discovery in Colombia at the San Jacinto/Rio Paez site.

"The first estimate indicates a potential of the field's possible reserves of 83 Mbbls at 100 percent, to be validated through additional work," Maurel & Prom said in a statement.

Maurel & Prom's partners on this exploration permit are Cepsa (CEP.MC) which has a 33.33 percent stake, and Petrobras (PETR4.SA) which has a 30 percent stake. Hocol holds around 37 percent.

 
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