Maurel & Prom : Changes in governance

Paris, 10 April 2017
No. 10-17
Changes in governance

At its meeting of 10 April 2017, the Board of Directors took due note of the resignation of Jean-François Hénin as member and Chairman of the Board.

Board members paid tribute to Jean-François Hénin`s commitment and achievements over the years. A visionary, he turned Maurel & Prom into an oil operator in 1998, and its successes in the Congo, Gabon, Colombia, Nigeria and Tanzania have earned the Group global renown.

In the summer of 2016, Jean-François Hénin sold his stake in Maurel & Prom, held through the holding company Pacifico, to Pertamina. This provided Maurel & Prom with the support of a major oil industry player and the resources it needs to accelerate the Group`s growth.

Appointment of Aussie B. Gautama as Chairman of the Board of Directors

The Board has co-opted and appointed Board member Aussie B. Gautama as Chairman of the Board, effective immediately.

Aussie B. Gautama, an adviser to Pertamina`s CEO on Exploration and Production activities since 2015, has more than 35 years` experience in the hydrocarbon sector, 30 of which were at TOTAL Group working, including from France, on various projects in Indonesia, Norway, Libya and Nigeria.

The Board of Directors has confirmed Michel Hochard as Chief Executive Officer.

Co-optation of two new directors

The Board of Directors has also taken due note, as of today, of the resignation of Gérard Andreck, independent director and Chairman of the Appointments and Compensation Committee, François Raudot Genet de Chatenay, independent director and member of the Appointments and Compensation Committee, and Eloi Duverger, independent director.

The Board voted to co-opt Maria R. Nellia and PT Pertamina Internasional Eksplorasi dan Produksi (PIEP), represented by Huddie Dewanto, as directors.

APPENDICES

Aussie B. Gautama, 61 years of age
Aussie B. Gautama, an adviser to Pertamina`s CEO on Exploration and Production activities since 2015, has held a number of successive positions at Total (1982-2012).
In 1991, he joined Total in Paris, working as a geologist on the Midgard project in Norway for two years. From 1998 to 2000, he worked at Total Libya as Geology and Geophysics Manager. In 2005, he returned to Total in Paris where he spent two years coordinating the OML 130 Egina-Preowei project in Nigeria.
From 2007 to 2012, he served as Vice President Geosciences & Reservoir at Total E&P Indonesia.
In 2012, Aussie B. Gautama was appointed Deputy for Planning Management at SKK Migas, the Indonesian regulatory authority tasked with managing exploration and production activities in the country`s hydrocarbon industry.
A graduate of the Bandung Institute of Technology in Indonesia, Aussie B. Gautama has also received a solid international education at schools such as ENSPM and INSEAD.

Maria R. Nellia, 52 years of age
Maria has worked in oil & gas industry for almost 29 years since 1989. She joined PT Pertamina Internasional EP in 2015 and currently serves as Vice President of Commercial & Business Support.
Maria received her bachelor degree in Geophysical Engineering from Colorado School of Mines, USA in 1988.
In August 1989, Maria started her career in Mobil Oil Indonesia and continued in Exxon Mobil as Geophysicist Exploration Development. She developed her management expertise in oil & gas company when she joined several multinational oil & gas companies such as PT. Landmark Concurrent Solusi Indonesia, a Halliburton Company (2000), PT Medco E&P Indonesia (2004) and Eni Indonesia (2007). During that time, she occupied many different roles including as the Exploration Project Liaison Superintendent in Eni Indonesia (2014).
Beside her career, Maria also developed her interest in petroleum subject by produced 1 research paper, that she presented in 22nd IPA (Indonesian Petroleum Association) Convention in 1993 and AAPG (American Association of Petroleum Geologist) Convention in 1994 with title "3D Seismic Facies Analysis of a Reefal Buildup of the NSO "A" Area, Offshore North Sumatra" Indonesia.

Huddie Dewanto, 53 years of age
Dewanto is the member of Board of Directors at PT Pertamina International Exploration and Production). He was graduated from University of Gadjah Mada (UGM) Indonesia in Accounting and continued his study in Case Western Reserve University US for his Master Degree within the same subject.
He has 27 years financial management experience during his serving at PT Pertamina (Persero) since 1990. During 1999 - 2004, he was appointed as Indonesia representative at OPEC (Organization of the Petroleum Exporting Countries) in Vienna.
After his return from OPEC, Dewanto started his first managerial role as the Funding Manager in 2007 and continued his career as the Vice President Financing at PT Pertamina (Persero). During this period, Dewanto received several leadership and technical training provided by the company in cooperation with prestigious Leadership Institute such as INSEAD. In 2013, Dewanto was appointed as the Finance & Business Support Director for PT Pertamina Algeria EP and deeply involved in the acquisition of ConocoPhillips Algeria Ltd, the first overseas operatorship asset owned by Pertamina, he then continued his role to PT Pertamina Internasional EP as Finance & Commercial Director.

For more information, go to www.maureletprom.fr
MAUREL & PROM
Tel: +33 (0)1 53 83 16 00

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Tel: +33 (0)1 53 83 16 45
ir@maureletprom.fr

This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

Maurel & Prom is listed for trading on Euronext Paris
CAC® mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share - CAC PME - EnterNext^© PEA-PME 150
ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA

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Source: Maurel & Prom via GlobeNewswire
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