Maurel and Prom, BW Energy to acquire Azule Energy’s stakes in Angolan blocks

The transaction carries a base cash consideration of $195 million, with $97.5 million net to M&P. The deal includes contingent payments of up to $115 million ($57.5 million net to M&P), payable upon specific events such as Brent oil prices exceeding certain thresholds between 2026 and 2028 and the achievement of production milestones.

Block 14 is a mature deepwater asset operated by Chevron, currently producing approximately 40,000 barrels of oil per day (bopd) from nine fields.

Block 14K is a unitised development between Angola and the Republic of Congo, connected to existing Block 14 infrastructure and producing around 2,000 bopd.