Fossil Energy – Equatorial Guinea
Panoro Energy has completed the formal signing for the production sharing contract for Block EG-23 offshore Equatorial Guinea.
The company has an 80% operated stake, in partnership with state oil and gas company GEPetrol (20%).
Panoro CEO John Hamilton said this second operated asset block for the company in the country aligns well with our infrastructure-led exploration and appraisal strategy, increasing our access to a large inventory of oil, gas and condensate discoveries, prospects and leads within tieback distance of existing production facilities.
Block EG-23 is north of Bioko Island and close to the producing offshore Alba gas and condensate field. It spans an area of about 600 sq km in water depths from 50 m to 100 m.
