Maurel & Prom SA has agreed to acquire from NG Energy International Corp. a 40% operating working interest in the Sinu-9 gas license in northwestern Colombia, pursuant to the letter of intent signed on Jan. 19, 2025.
Sinu-9 covers 311,353 acres in Sinú-San Jacinto (SSJ) basin in the Lower Magdalena Valley, 75 km from Colombia’s Caribbean coast. It has been permitted to drill 22 wells from 11 locations.
The reservoir contains multiple gas bearing zones spanning about 2,000 ft gross thickness with porosities as high as 25% and permeabilities as high as 500 md. Sinu-9 gas block contains 158.8 bcf gross proven plus probable (2P) reserves and 340.8 bcf proven plus probable plus possible (3P) reserves.
Phase 1 infrastructure has 40 MMscfd capacity, and production is expected to ramp up through first-half 2025.
The transaction is valued at $150 million.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
