Access to capital key to Panoro growth

The producer’s CEO tells Petroleum Economist about its recent acquisitions and the prospects for maturing oil and gas assets in Africa

Oslo-listed Panoro Energy is undergoing a rapid expansion. The firm added to its portfolio recently with the acquisition of west African assets from debt-burdened Anglo-Irish independent Tullow Oil, comprising an expanded holding in Gabon and Panoro’s first move into Equatorial Guinea. Panoro is an E&P specialist with an exclusive focus on Africa. Earlier this month, the company announced the “transformational acquisition” from Tullow of a 14.25pc stake in Equatorial Guinea’s offshore block G (Ceiba and Okume), as well as another 10pc of Gabon’s Dussafu field, bringing its share up to 17.5pc. The deals—which are both expected to be completed in the first half of this year—will increase t