Maurel & Prom Secures Sinu-9 Deal to Tackle Colombia's Energy Crisis

BOGOTÁ, Colombia – December 28, 2025 – French oil and gas company Maurel & Prom (M&P) has received final regulatory approval to acquire a majority stake and operatorship in the Sinu-9 gas permit, a move poised to inject vital new supply into Colombia's increasingly strained energy market. The green light from Colombia's National Hydrocarbons Agency (ANH) marks a decisive milestone, enabling M&P to close the $185 million transaction and immediately launch a multi-well drilling program slated to begin in January 2026.

This acquisition represents a strategic re-entry into Colombian production for M&P and comes at a critical juncture for the South American nation. Facing a sharp decline in domestic gas reserves and rising demand, Colombia is on a trajectory toward a significant energy deficit, making the rapid development of onshore assets like Sinu-9 a matter of national importance.

A Strategic Play Amidst a Gas Deficit

Colombia's energy landscape is fraught with challenges. By the end of 2024, the country's proven natural gas reserves were estimated to cover just under six years of consumption, a stark decline from a decade ago. This depletion is a result of maturing fields and robust domestic demand, which has grown at an average of 3.7% annually since 2013. Production hit historic lows of 800 million cubic feet per day (mmcfd) in August 2025, a 16% drop year-over-year.

The situation has been compounded by a government policy enacted in 2022 that halted the issuance of new oil and gas exploration permits, severely limiting the potential for new discoveries to replace dwindling reserves. Consequently, Colombia is bracing for a growing reliance on more expensive foreign gas. Projections from Bancolombia estimate that imports will need to satisfy 26% of the country's total gas demand in 2026, a figure expected to surge to 56% by 2029. Without new domestic sources, the country faces higher energy costs that could impact both households and industrial competitiveness.

It is within this high-stakes environment that M&P's investment in Sinu-9 becomes particularly significant. The project promises to bring new, domestically produced gas to market relatively quickly, offering a partial but crucial buffer against the looming supply gap.

Unlocking the Potential of Sinu-9

The Sinu-9 permit is a high-quality asset located in the prolific Sinu San Jacinto basin, approximately 75 kilometers from the Caribbean coast. As of late 2024, the block holds certified gross proven plus probable (2P) reserves of 180.7 billion cubic feet (bcf). The field already commenced production in November 2024 from its initial wells, with gross production capacity currently standing at around 21 mmcfd.

Crucially, the permit benefits from existing infrastructure. It has direct access to the Promigas pipeline, a major part of Colombia's national gas transportation network. Current evacuation capacity is 30 mmcfd, with established plans to upgrade this to 40 mmcfd by the second quarter of 2026, allowing for expanded production.

With the ANH's approval secured, Maurel & Prom is wasting no time. The company will take over as operator and plans to kick off an accelerated six-well exploration and development campaign in mid-January 2026, starting with the Hechicero-1X well. This aggressive drilling program, backed by an existing environmental license for up to 22 wells, underscores the company's intent to rapidly scale up production and further define the block's substantial resource base.

Financial Strength Fuels Latin American Expansion

Maurel & Prom's strategic push into Colombia is backed by a robust financial position. The company reported a strong 2024, with sales climbing 19% to $808 million and free cash flow surging 54% to $241 million. This performance allowed the group to achieve a positive net cash position of $34 million by year-end 2024, a first since 2007. With available liquidity reaching $404 million by mid-2025, M&P is well-capitalized to finance both the Sinu-9 acquisition—which includes a $78 million payment at closing—and the subsequent development program.

Company leadership has highlighted that the acquisition consolidates M&P's long-term exposure to a high-quality gas asset with significant upside. This move is a cornerstone of its broader strategy to diversify its portfolio, expand its footprint in Latin America, and deliver shareholder value while contributing to the energy security of its host nations.

A Critical Piece of Colombia's Energy Puzzle

While the Sinu-9 project is a significant development, it is one part of Colombia's complex, multi-pronged strategy to avert a full-blown energy crisis. The country is simultaneously working to expand its LNG import capacity, with its sole regasification terminal in Cartagena undergoing upgrades. Furthermore, major offshore discoveries like the Sirius-2 well, which confirmed gas volumes potentially exceeding 6 trillion cubic feet, offer a long-term solution. However, production from these deepwater fields is not expected until 2027 at the earliest and will require years to reach full capacity.

This timeline makes the immediate potential of onshore projects like Sinu-9 all the more critical. By leveraging existing infrastructure and a proven resource base, Maurel & Prom is positioned to deliver a tangible increase in domestic gas supply in the near term. As the company prepares to spud its first well as operator, all eyes in Colombia's energy sector will be on the Sinu basin, watching for the first results of a project that could play a pivotal role in the nation's energy future.