Oil firm Maurel & Prom says Venezuela teams fully mobilised as US issues key authorisation

Feb 19 (Reuters) - Maurel & Prom's MAUP.PA teams in Venezuela are fully mobilised and ready for the next phases of development, its chief executive said on Thursday, after the U.S. added the French oil producer to a list of companies authorized to expand operations in the country.

M&P's exports from Venezuela came to a halt in the second quarter of last year after U.S. President Donald Trump's administration suspended its licence alongside other oil companies. It has been hoping to resume oil exports from the OPEC member after U.S. forces captured and removed President Nicolas Maduro in early January.

Shares in the company jumped 6% in early Paris trading.

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

However, it was not initially added to a list of companies covered by two general licences the OFAC issued last week, which included Chevron CVX.N, Shell SHEL.L, Repsol REP.MC and some other firms that are partners of state oil company PDVSA.

The U.S. Treasury Department issued a new general licence on Wednesday, adding the French company to the list.

"The clarity provided by GL 50A will enable us to operate with confidence," M&P CEO Olivier de Langavant said in a statement on Thursday, referring to the updated list.

"This development provides a stable regulatory framework for M&P's activities in Venezuela," he added.

M&P said last week it had noted a significant increase in identified reserves in Venezuela, with studies confirming the potential of zones previously considered unproven.