Panoro Energy to Acquire DNO Producing Asset Offshore Côte d’Ivoire
Panoro Energy ASA has agreed to acquire a 9.09 per cent interest in the producing Block CI-27 offshore Côte d’Ivoire from DNO ASA. The transaction accelerates Panoro's production targets.
Panoro Energy ASA has entered into an agreement to acquire the entire share capital of DNO CI LLC, a wholly owned subsidiary of DNO ASA. This subsidiary holds an indirect 9.09 per cent interest in the producing Block CI-27 located offshore Côte d’Ivoire.
The acquisition is expected to accelerate Panoro's path toward achieving a group production target of over 20,000 barrels of oil equivalent per day (boepd). Specific financial terms of the transaction have not been disclosed.
Block CI-27 commenced production in 2018 and primarily produces gas for domestic energy consumption in Côte d’Ivoire. This move is set to enhance Panoro's footprint and production capacity within the West African region.
Panoro Energy focuses on oil and gas production in North and West Africa, aiming to grow its output through both organic development and strategic acquisitions.