French oil company Maurel & Prom (M&P) announced a record net income of $410 million for the 2025 fiscal year, a 72% increase compared to the previous year. This performance is underpinned by significant investments made in Gabon, where the company has been operating for two decades.
In 2025, consolidated sales amounted to $578 million, down from $808 million in 2024. This decrease is mainly due to the fall in the average selling price of oil, which fell from $80.3 per barrel in 2024 to $69.4 per barrel in 2025. However, this decline was offset by an increase in M&P's share of production, which reached 37,096 barrels of oil equivalent per day (boepd) in 2025, an increase of 2% compared to 2024.
M&P made significant investments in Gabon in 2025, particularly in the development of the Ezanga permit. These investments have increased the company's oil production in the country. M&P's oil production in Gabon amounted to 14,662 barrels per day (bopd) in 2025.
In addition to Gabon, M&P has also invested in Angola, Tanzania and Colombia. The company also sold its 20.07% stake in Seplat Energy, generating a net cash inflow of $197 million.
For the year 2026, M&P expects to increase its production to approximately 42,700 barrels of oil equivalent per day. The company also plans to invest $240 million in development and $42 million in exploration. M&P plans to pay a dividend of €0.38 per share, up 15% compared to the previous year.
M&P CEO Olivier de Langavant said that 2025 was an exceptional year for the company, both operationally and financially. He added that the sale of the stake in Seplat Energy had strengthened the company's balance sheet and given it the resources to accelerate its development. With a cash position of $460 million, Maurel & Prom is positioning itself for a new phase of growth.
Despite lower oil prices, the company is staying the course and plans to increase its investments in Gabon and elsewhere.
