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Water injection started on the M’Boundi field in Congo Republic

Maurel et Prom 01-24-2007

Maurel & Prom announces that on January 20, 2007 water injection was started on the MBD-406 and MBD-407 wells of the M'Boundi field (Maurel & Prom 48.6%, operator). The current water injection capacity of 20 000 b/d will be gradually increased to 60 000 b/d in mid-2007 and to 120 000 b/d in 2008. This ramp-up will be accompanied by the drilling and/or conversion of 16 additional injector wells during 2007. www.maureletprom.com

The delay in starting water injection on this field is due to the delayed equipment supplies. The impact of water injection on oil production will become known gradually during 2007 after at least six months.

The M'Boundi field is bound to become the second major area of oil recovery by water injection for Maurel & Prom with the San Francisco field which it operates successfully in Colombia and where more than 200 000 barrels of water are injected daily into 53 wells.