- Business
- Panoro Energy ASA operates as an independent exploration and production entity, concentrating on the discovery, development, and extraction of oil and natural gas across diverse African regions. The company maintains interests in various assets spanning Equatorial Guinea, Gabon, Tunisia, and South Africa. As of December 31, 2024, its estimated net working interest reserves stood at 29.54 million barrels of oil (MMbbls) for 1P proved reserves, 42.27 MMbbls for 2P proved and probable reserves, and 57.01 MMbbls for 3P proved, probable, and possible reserves. These figures reflect a 22 percent increase in 2P reserves year-on-year, driven by a 309 percent organic reserve replacement ratio in 2024, notably through discoveries in Gabon. Key operational areas include the flagship Dussafu Marin Permit in Gabon, the Ceiba Field and Okume Complex in Equatorial Guinea, and the TPS Assets in Tunisia. Panoro Energy achieved its group production target of over 13,000 barrels of oil per day (bopd) in November 2024 and continues to advance development drilling campaigns and seismic acquisitions across its portfolio, including the Bourdon discovery in Gabon which is being matured for future development. Established in 2009, the firm's registered address is in Oslo, Norway, with main operational offices located in London, United Kingdom.