Panoro Energy Completes Acquisition of Stake in Ivorian Gas Block
Panoro Energy ASA has finalized the acquisition of DNO CI LLC, securing a 9.09 per cent indirect interest in the gas-producing Block CI-27 offshore Côte d’Ivoire. The total consideration was USD 64.4 million.
Oslo-based oil and gas company Panoro Energy ASA announced on September 14, 2026, the completion of its acquisition of DNO CI LLC. This transaction grants Panoro an indirect 9.09 per cent interest in the high-quality, gas-producing Block CI-27 located offshore Côte d’Ivoire.
The total consideration for the acquisition amounted to USD 64.4 million. Panoro paid USD 43 million in cash and settled the remaining USD 21.4 million through the issuance of seven million new Panoro shares to DNO.
This move enhances Panoro Energy's position in West African offshore gas production. The gas from Block CI-27 is primarily used for domestic and regional power generation, making the asset strategically significant for the area's energy security.
The company stated that the terms and consideration align with previous announcements. The acquisition is expected to bolster Panoro's cash flow and production profile.