PT Pertamina International Exploration and Production, the upstream subsidiary of PT Pertamina (Persero), which manages oil and gas assets overseas companies, successfully undertake the tender offer for the shares Maurel & Prom at the first stage.

The results of the tender offer (offer to buy shares) has been announced by the Autorité des Marchés financiers (AMF) of France on January 25, 2017 local time. Starting from February 1, 2017, PIEP will control as many as 125 924 574 shares and the voting rights of Maurel & Prom, which is equivalent to 64.46% of the shares and 63.35% of the voting rights in Maurel & Prom.

In addition, it also controls many as 6,845,626 PIEP ORNANE (bonds that can be exchanged for cash and shares) in 2019, equivalent to 46.70% of the outstanding ORNANE 2019. PIEP will also hold ORNANE 3.84862 million in 2021, which is equivalent to 36, 88% of the outstanding ORNANE 2021.

Payments to owners ORNANE will be done on completion of the transaction at once surrender ORNANE to companies with a value of 17.28 euros per ORNANE 2019 (ie the nominal value of 0.02 euros plus interest), and 11.05 euro per ORNANE 2021 (ie nominal value plus interest at 0.03 euro).

In accordance with article 232-4 of the AMF General Regulations, the tender offer will be automatically re-open for a period of 10 working days of the exchange. Schedule the tender offer be published by the AMF.

"With the successful implementation of the first stage of this tender offer, we hope and are optimistic that the next stage of the tender offer will run properly and optimum results for PIEP and Pertamina," said Wianda.

About Maurel & Prom

Maurel & Prom is an independent oil company engaged in the extraction and production of hydrocarbons, listed on Euronext Paris and headquartered in Paris.The group carries out most of its business in Africa through the exploitation of onshore production assets (Gabon and Tanzania) and a 21.37% stake in Seplat Petroleum, one of the leading indigenous operators in Nigeria with a production of 43.4 kboe/d in 2015. Maurel & Prom’s proved and probable oil reserves totaled 205 MMboe at the end of 2015 (78 % Gabon, Tanzania 22 %) and production in H1 2016 in M&P share was 25.1 kboe/d (mainly Gabon).

About Pertamina (Persero)

Pertamina is Indonesia’s leading integrated energy company. We are committed to an ongoing process of transformation and continuous improvement with the objective to achieve global standards of operational, environmental, and corporate performance. Our businesses include exploration and production (oil and gas), refining, manufacturing and marketing of oil products and petrochemicals. We are also engaged in the development of biofuels, geothermal power and other sustainable alternative energy sources.