Etablissements Maurel & Prom (M&P) has completed the acquisition of a 61% working interest and operatorship in the producing Sinu-9 gas licence in Colombia for a total consideration of $229m (€196.14m).

The announcement follows approval from Colombia's National Hydrocarbons Agency in December 2025.

The Sinu-9 gas block, situated in the Lower Magdalena Valley, covers around 1,260km² in the department of Córdoba. It is approximately 75km from the Caribbean coast of Colombia.

It lies within the Sinu San Jacinto basin, next to producing gas blocks operated by Canacol and Hocol.

M&P’s stake acquisition involved two separate transactions.

The French oil and gas company secured a 40% working interest from MKMS Enerji Anonim Sirketi, a subsidiary of NG Energy International, under a an agreement signed in February 2025.

The additional 21% stake in the block was acquired from Desarrolladora Oleum and Clean Energy Resources, including the transfer of operatorship, with agreements formalised in July 2025.

After accounting for advance payments, M&P had an outstanding balance of $185m at closing, of which $78m was paid immediately.

The remaining $108m will be settled through instalments during 2026.

M&P also holds an option to purchase an additional 5% interest in the Sinu-9 block from NG Energy for $18.75m within 12 months. This is subject to cash flow adjustments from the effective date of 1 February 2025.

M&P CEO Olivier de Langavant said: “We are very happy to have completed this acquisition and to become operator of the Sinu-9 licence. This marks the beginning of a new phase for M&P in Colombia. The teams are fully mobilised, and we are now focused on execution and value creation.”

Production at Sinu-9 commenced in November 2024 during the long-term testing phase of the Magico-1X and Brujo-1X wells.

Since July 2025, gross production capacity has stabilised at approximately 21 million cubic feet per day (mcf/d) following the main plant's commissioning.

Current infrastructure supports a gross production capacity of 30mcf/d, with an increase to 40mcf/d planned by the second quarter of 2026.

Additionally, M&P plans to initiate a six-well exploration campaign in the Sinu-9 block in February 2026.