Panoro Energy has announced its final investment decision (FID) on the development of the Dussafu oil fields in Gabon
Pan Petroleum Gabon BV, a fully owned subsidiary of Panoro, has approved the operator's proposed work programme and budget to move forward with the development of the oilfields, which are located offshore from the West African country. The company has a 33.333 per cent interest in the block. The remaining 66.667 per cent of the block is owned by BW Offshore.
Initially, two horizontal wells will be drilled at Tortue in the Gamba and Dentale reservoirs. Additionally, a side-track will be drilled in the northwest part of the Tortue field. These production wells will be tied back to a leased FPSO via subsea trees and flowlines.
An independent review is being conducted for Dussafu's joint venture partners by Netherland Sewell and Associates to update the estimates and move contingent resources to reserves further to the FID.
John Hamilton, CEO of Panoro, described the FID as "a very important milestone" for the company.
"First oil at Dussafu remains on track to be achieved during the second half of 2018," Mr Hamilton said.
