Maurel et Prom’s production fell in the first nine months of 2020, although its acquisition of Angolan assets helped avoid too great a reduction.
Maurel et Prom
Demand for Wentworth Resources’ gas in Tanzania will stay flat this year, with heavy rains driving hydropower generation, but things should pick up towards the end of 2020.
Maurel et Prom intends to hold its production roughly stable in 2020 as the company focuses on riding out the current storm.
Maurel et Prom’s income increased in 2019 as a result of increased production, while the sales price fell marginally.
Working in different locations presents various logistical problems for companies – a problem Progressive TSL aims to tackle.
Tanzania has struggled to pay its debts to local gas producers but there are signs this is changing, with Wentworth Resources and Orca Exploration posting strong quarterly results on improved collections and higher gas demand.