France's Maurel et Prom raises stake in Colombia's Sinu-9 gas field

July 3 (Reuters) - French oil and gas company Maurel et Prom MAUP.PA has agreed to raise its ownership stake in Colombia's Sinu-9 gas field by another 21% for nearly $79 million, it said on Thursday, as it continues to expand its position in the country.

The acquisition of additional working interest in the gas block from minority partners brings Maurel et Prom's total stake to 61%. The rest is owned by Canada-based NG Energy International.

"This acquisition consolidates M&P's long-term exposure to a high-quality gas asset with substantial development and exploration potential," Olivier de Langavant, CEO of Maurel et Prom, said in a press statement.

The company became engaged in the Sinu-9 gas field in February when it acquired the initial 40% stake. It holds a call option for an additional 5% stake for a payment of $18.75 million, valid for 12 months from the closing of the original transaction.

The latest acquisition is subject to regulatory approvals, including from Colombia's National Hydrocarbons Agency, and is expected to be closed in the third quarter of 2025, Maurel et Prom said.