Knightsbridge Investments to Sell Latin American Assets to Maurel & Prom

Knightsbridge Investments, the Bermuda-based independent oil, gas and chemicals company, is pleased to confirm it has agreed a transaction with Maurel & Prom regarding the sale of its oil and gas operations in Colombia and Venezuela.

Maurel & Prom is a French independent oil and gas company, listed on the Paris stock exchange, with exploration and production activity in West Africa, the Caribbean, Latin America and Asia.

Under the agreed terms , Knightsbridge Investments would provide Maurel & Prom with transition and specified continuing management services in London, Colombia and Venezuela. Further information regarding Maurel & Prom and the transaction are available at www.maureletprom.com.

Assets operated by Knightsbridge Investments, through subsidiaries in Colombia and Venezuela, currently produce 30,000 b/d.

Knightsbridge Investments’ chemical operations, based in the Middle East, do not form part of the discussions with Maurel & Prom.

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Further information from:
Knightsbridge Petroleum (UK) Limited
1 Knightsbridge, London, SW1X 7UP
Telephone: +44 (0)20 7073 7500
Facsimile: +44 (0)20 7235 8787
E-mail: Info@knbridge.com