Maurel & Prom's hopes of resumption in Venezuelan oil sales boosted by easing of sanctions

Feb 16 (Reuters) - French oil producer Maurel & Prom MAUP.PA is hopeful of soon being able to resume exports of Venezuelan oil, it said on Monday after the United States government relaxed sanctions on the country's energy sector on Friday.

The U.S. issued two general licences on Friday, giving major energy companies scope to operate in OPEC member Venezuela, representing the most significant easing of sanctions on Venezuela since U.S. forces captured and removed President Nicolas Maduro last month.

Maurel & Prom described the latest developments as a "constructive step", though it was not included in a list of companies covered by the licences.

"A stable and predictable environment will contribute to unlocking value for all stakeholders," its statement added.

Shares in the company were down about 4% in early trading.

The group has been unable to export Venezuelan oil since the second quarter of last year, when U.S. President Donald Trump's administration suspended its licence along with other oil companies active in the South American country.

It submitted a new licence application to the U.S. Office of Foreign Assets Control (OFAC) in early January, seeking a full resumption of its operations in Venezuela.

The company also noted a significant increase in identified reserves in Venezuela, with studies confirming the potential of zones previously considered unproven.

Maurel & Prom said on Monday that its activities in the Urdaneta Oeste field, where its M&P Iberoamerica business holds a 40% working interest, are running satisfactorily and it is ready for the next phase of field development once authorisation is issued.

Gross production at the field averaged about 21,000 barrels of oil per day in January, resulting in net output of 8,400 bpd for M&P Iberoamerica.