Production

Panoro expanding offshore Equatorial Guinea E&P position

Oct. 20, 2022

Panoro Energy has agreed to acquire a 12% stake in the Kosmos Energy-operated Block S offshore Equatorial Guinea.

The current joint venture partnership at Block S is Kosmos Energy (40% and operator), Trident Energy (40%) and GEPetrol (20%). — The current joint venture partnership at Block S is Kosmos Energy (40% and operator), Trident Energy
(40%) and GEPetrol (20%).

Offshore staff

OSLO, Norway — Panoro Energy has agreed to acquire a 12% stake in the Kosmos Energy-operated Block S offshore Equatorial Guinea.

Kosmos and Trident Energy will each farm out 6% of their interests to Panoro, subject to approvals.

Block S is close to the offshore Ceiba Field and Okume complex, which have to date produced about 465 MMbbl, where all three companies are partners. The production sharing contract was recently extended until year-end 2040.

Panoro added that it would have modest financial exposure to a large number of prospects and leads in Block S within tieback distance of production facilities.

The 1,245-sq-km concession is in water depths ranging from 450 m to 1,500 m and is covered by 3D seismic. One exploration well is set to be drilled during 2024.

10.20.2022