Maha Energy AB (publ) (OM:MAHA A) signed an agreement to acquire Empresa Mixta Petrourdaneta, S.A from Novonor Latinvest Energy SARL for ?4.60 million on March 12, 2024. The definitive documents formalize Maha?s acquisition, being the transaction subject to the fulfillment of certain condition precedent, mainly related to: that all consents, authorizations, orders and approvals from relevant governmental authorities required for completion have been received; successful negotiation of the relevant operational and collaboration agreements/framework with PDVSA and/ or local authorities for the redevelopment of PetroUrdaneta?s fields. Such agreements aim to allow Maha to define a new development program of PetroUrdaneta and enhance control over the operations, particularly in the areas of purchasing, cash management and crude sales/offtake.
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- Maha Energy AB (OM: MAHA A) signed an agreement to acquire Empresa Mixta Petrourdaneta, S.A from Novonor Latinvest Energy SARL for ?4.60 million.