{"id":15548,"date":"2026-01-21T09:39:24","date_gmt":"2026-01-21T09:39:24","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=15548"},"modified":"2026-01-21T09:39:26","modified_gmt":"2026-01-21T09:39:26","slug":"panoro-energy-provides-operations-update-for-equatorial-guinea-gabon-tunisia","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/panoro-energy-provides-operations-update-for-equatorial-guinea-gabon-tunisia\/","title":{"rendered":"Panoro Energy Provides Operations Update for Equatorial Guinea, Gabon &amp; Tunisia"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Equatorial Guinea<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>As previously communicated, production at Block G offshore Equatorial Guinea (Panoro 14.25 percent) has been impacted by unplanned facilities related downtime at the Ceiba field<\/li>\n\n\n\n<li>Progress is being made with partial restoration of production at Ceiba achieved. Work will continue in 2026 to regain full potential and ensure reliability<\/li>\n\n\n\n<li>Numerous ongoing productive and asset integrity projects will continue throughout 2026 and contribute to field life extension<\/li>\n\n\n\n<li>The Joint Venture is evaluating the potential for future infill drilling campaigns in the Okume Complex, using a conventional jack-up rig in shallow water, and susbsea infill wells at the Ceiba field<\/li>\n\n\n\n<li>At Block EG-23 offshore Equatorial Guinea (Panoro 80 percent, operator) seismic reprocessing and subsurface studies are ongoing with particular focus on existing discoveries (some of which have been tested) and surrounding prospectivity in shallow water depths of ~60 metres\n<ul class=\"wp-block-list\">\n<li>Estrella discovery has been high-graded as a potential fast-track development candidate within tie-back distance to existing infrastructure (early concepts being evaluated)<\/li>\n\n\n\n<li>Estrella-1 well discovered 60 metres net hydrocarbon pay in 2001 and was tested at 6,780 bopd (48 &#8211; 50\u00b0 API) and 48.7 MMscfd<\/li>\n\n\n\n<li>Six further oil, gas and gas\/condensate discoveries have been made on the block<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Gabon<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Field delivery remains strong and steady at the Dussafu Marin Permit offshore Gabon (Panoro 17.5 percent)<\/li>\n\n\n\n<li>Final Investment Decision (FID) was taken in H2 2025 for the MaBoMo Phase 2 drilling programme (previously Hibiscus Ruche Phase 2), comprising four planned development wells. First oil targeted in H2 2026<\/li>\n\n\n\n<li>Bourdon discovery being matured towards FID with an expected initial three wells and a development cluster concept based on the MaBoMo blueprint\u00a0<\/li>\n\n\n\n<li>Additional drilling targets have been identified in the vicinity of the Bourdon discovery which may add further upside<\/li>\n\n\n\n<li>3D seismic acquisition across the Niosi, Guduma (Panoro 25 percent) and Dussafu licenses has completed<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Tunisia \u2013 TPS Assets<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Production has remained stable at the TPS Assets in Tunisia (Panoro 49 percent) where ongoing workovers and upcoming optimisation campaigns are expected to positively impact production<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Julien Balkany, Executive Chairman of Panoro, commented:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cOur&nbsp;<\/em><em>average net production was 10,263 bopd for the full year,<\/em><em>&nbsp;and is a new record high for Panoro. Our crude oil liftings of around 3.1 million barrels were in line with previously communicated expectations. In accordance with our 2025 shareholder returns policy the Company distributed a total of NOK 411 million to shareholders in the calendar year, with quarterly cash distributions amounting to NOK 320 million complemented with NOK 91 million through share buybacks. This brings the cumulative cash returned to shareholders through distributions and buybacks since March 2022 to NOK 795 million or approximately 36 per cent of Panoro\u2019s market cap.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Looking ahead, we enter 2026 with significant exciting growth projects underway. As planned, we will resume drilling in Gabon with four new production wells at MaBoMo Phase 2 which we expect will increase gross production at Dussafu to the<\/em><em>&nbsp;&nbsp;<\/em><em>nameplate capacity of around 40,000 bopd when all wells are onstream. Once processed and analysed the new state-of-the-art seismic data we have recently acquired covering the Niosi, Guduma and Dussafu blocks will allow us to confirm future high-impact drilling targets and further unlock the considerable upside potential of those blocks. In Equatorial Guinea we have high-graded the Estrella discovery on Block EG-23 as a potential fast-track appraisal and development project that could be tied back to existing infrastructure, and have an extensive inventory of additional prospects under evaluation.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>With healthy cash position at 2025 year-end of&nbsp;<\/em><em>approximately USD 78 million,&nbsp;<\/em><em>we continue to be well positioned to deliver on our organic and external growth strategy coupled with our shareholder returns policy in order to maximise value for all our stakeholders.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>2025 Performance<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Production<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Group working interest production in Q4 and full-year 2025 was:<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Average W.I. production &#8211; bopd<\/strong><\/td><td><strong>Q4 2025<\/strong><\/td><td><strong>FY 2025<\/strong><\/td><\/tr><tr><td>Equatorial Guinea<\/td><td>2,374<\/td><td>2,919<\/td><\/tr><tr><td>Gabon<\/td><td>5,343<\/td><td>5,813<\/td><\/tr><tr><td>Tunisia<\/td><td>1,511<\/td><td>1,530<\/td><\/tr><tr><td><strong>Total<\/strong><\/td><td><strong>9,228<\/strong><\/td><td><strong>10,263<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>2026 production guidance will be provided at the Company\u2019s full year 2025 results on 25 February 2026<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Crude Oil Liftings<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Crude oil volumes lifted and sold in Q4 and full-year 2025 were in line with previously communicated expectations:<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>&nbsp;<\/strong><\/td><td><strong>Q4 2025<\/strong><\/td><td><strong>FY 2025<\/strong><\/td><\/tr><tr><td>Volumes lifted<\/td><td>1,050,138 barrels<\/td><td>3,060,330 barrels<\/td><\/tr><tr><td>Average realised price after adjustments and customary fees<\/td><td>USD 60.66 \/ bbl<\/td><td>USD 65.14 \/ bbl<\/td><\/tr><tr><td><strong>Proceeds<\/strong><\/td><td><strong>USD 63.7 million<\/strong><\/td><td><strong>USD 199.4 million<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Note: Proceeds from oil sales differs to total reported revenue which includes a gross up for state profit oil in Gabon with a corresponding amount included as deemed income tax for reporting purposes<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Panoro\u2019s anticipated lifting schedule for 2026 is being finalised with partners and the Company will provide an update at its full year 2025 results on 25 February 2026<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Equatorial Guinea Gabon Tunisia \u2013 TPS Assets Julien Balkany, Executive Chairman of Panoro, commented: \u201cOur&nbsp;average net production was 10,263 bopd for the full year,&nbsp;and is a new record high for &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/panoro-energy-provides-operations-update-for-equatorial-guinea-gabon-tunisia\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":15549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[9081,12200,11198,9015,789,12334,944,12333,11340,12332,10238,2578],"class_list":["post-15548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-block-g","tag-bourdon-discovery","tag-ceiba-field","tag-dussafu-marin-permit","tag-equatorial-guinea","tag-estrella-discovery","tag-gabon","tag-guduma","tag-mabomo","tag-niosi","tag-okume-complex","tag-tunisia","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Panoro-Energy.png?fit=664%2C320&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-42M","jetpack-related-posts":[{"id":15756,"url":"https:\/\/www.oilnewskenya.com\/index.php\/panoro-energy-provides-an-operational-update\/","url_meta":{"origin":15548,"position":0},"title":"Panoro Energy Provides an Operational Update","author":"Samuel Kamau Mbote","date":"May 7, 2026","format":false,"excerpt":"Equatorial Guinea As previously communicated, production at Block G offshore Equatorial Guinea (Panoro 14.25 percent) has been impacted by unplanned facilities related downtime at the Ceiba field Progress is being made with partial restoration of production at Ceiba achieved. Work will continue in 2026 to regain full potential and ensure\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Panoro-Energy.png?fit=664%2C320&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Panoro-Energy.png?fit=664%2C320&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Panoro-Energy.png?fit=664%2C320&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12648,"url":"https:\/\/www.oilnewskenya.com\/index.php\/equatorial-guinea-panoro-energy-achieves-payback-for-2021-block-g-acquisition\/","url_meta":{"origin":15548,"position":1},"title":"EQUATORIAL GUINEA: Panoro Energy Achieves Payback for 2021 Block G Acquisition","author":"","date":"September 14, 2022","format":false,"excerpt":"Panoro Energy has said that following its lifting of 745,000 barrels of oil at Block G offshore Equatorial Guinea in July and receipt of its related payment in excess of USD 80 million, cumulative net cash flow generated from Panoro\u2019s production entitlement at Block G has exceeded the upfront acquisition\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/09\/Panoro-EQG-Okume-Ceiba.gif?fit=450%2C275&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12232,"url":"https:\/\/www.oilnewskenya.com\/index.php\/equatorial-guinea-panoro-energy-awards-extension-of-offshore-block-g-psc\/","url_meta":{"origin":15548,"position":2},"title":"EQUATORIAL GUINEA: Trident Energy Awarded Extension of Offshore Block G PSC","author":"","date":"May 9, 2022","format":false,"excerpt":"The Block G Production Sharing Contract in Equatorial Guinea\u00a0has been successfully extended to 31 December 2040. Alongside our Joint Venture partners, Kosmos Energy, Panoro Energy, GE Petrol and the Ministry of Mines and Hydrocarbons, we have agreed a material time extension of the PSC covering both the Ceiba field and\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/kosmos-energy.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13592,"url":"https:\/\/www.oilnewskenya.com\/index.php\/equatorial-guinea-panoro-energy-confirms-ratification-of-block-eg-01-award-and-approval-of-block-s-farm-inequatorial-guinea\/","url_meta":{"origin":15548,"position":3},"title":"EQUATORIAL GUINEA: Panoro Energy Confirms Ratification of Block EG-01 Award and Approval of Block S Farm-in","author":"","date":"April 20, 2023","format":false,"excerpt":"Panoro Energy ASA confirms that the award of Block EG-01, announced by the Company on 20 February 2023, has been ratified by the Government of Equatorial Guinea.\u00a0 Panoro has been awarded a 56 percent operated interest in Block EG-01 alongside partners Kosmos Energy (24 percent) and GEPetrol (20 percent). Separately,\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Equatorial-Guinea-Ceiba-Okume.png?fit=1033%2C630&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Equatorial-Guinea-Ceiba-Okume.png?fit=1033%2C630&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Equatorial-Guinea-Ceiba-Okume.png?fit=1033%2C630&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Equatorial-Guinea-Ceiba-Okume.png?fit=1033%2C630&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15837,"url":"https:\/\/www.oilnewskenya.com\/index.php\/equatorial-guinea-panoro-energy-reports-completion-of-acquisition-of-block-g-offshore\/","url_meta":{"origin":15548,"position":4},"title":"EQUATORIAL GUINEA: Panoro Energy Reports Completion of Acquisition of Block G offshore","author":"Samuel Kamau Mbote","date":"June 17, 2026","format":false,"excerpt":"Panoro Energy has announced the completion of the acquisition by Panoro of the Kosmos Energy subsidiary that holds\u00a0through a wholly-owned entity, a 40.375 per cent non-operated interest in Block G offshore Equatorial Guinea (the \u201cAcquisition\u201d). This follows the receipt of customary competition clearance by the Central African Economic and Monetary\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Equatorial-Guinea-Ceiba-Okume.png?fit=1033%2C630&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Equatorial-Guinea-Ceiba-Okume.png?fit=1033%2C630&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Equatorial-Guinea-Ceiba-Okume.png?fit=1033%2C630&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Equatorial-Guinea-Ceiba-Okume.png?fit=1033%2C630&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10151,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-completes-the-sale-of-its-assets-in-equatorial-guinea-to-panoro-energy\/","url_meta":{"origin":15548,"position":5},"title":"Tullow Oil Completes the Sale of its Assets in Equatorial Guinea to Panoro Energy","author":"","date":"April 1, 2021","format":false,"excerpt":"Tullow Oil plc has announced that the sale of its assets in Equatorial Guinea to Panoro Energy has now completed. Earlier today, Tullow received a payment of $88.8 million from Panoro. As previously disclosed, this transaction also includes contingent cash payments of up to $16 million which are linked to\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Tullow-Oil.jpg?fit=713%2C476&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=15548"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15548\/revisions"}],"predecessor-version":[{"id":15550,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15548\/revisions\/15550"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/15549"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=15548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=15548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=15548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}