Gran Tierra has entered into a definitive share sale and purchase agreement to sell its oil business in Colombia and Ecuador to Maurel & Prom, a Paris-listed oil company majority owned by the Indonesian state-owned energy group, Pertamina, representing a total consideration of USD1.33bn (Gran Tierra press release, 04/08/2026).
The assets comprise approximately 29 kb/d of average working-interest oil production in H1 2026 (before royalties), 144 mbl of 2P reserves, and around 1.4 million gross acres (around 0.6 million hectares). They are located across Colombia's Middle Magdalena Valley, Putumayo and Llanos basins, as well as Ecuador's Oriente Basin. Development and exploration opportunities across the portfolio are expected to raise working-interest production to approximately 40 kb/d by 2029-2030.
The transaction is expected to close around 31 December 2026, subject to shareholder approval, creditor and prepayment buyer consents, regulatory clearances in Colombia and Ecuador, and other customary closing conditions.