Panoro Energy achieves record production in 2025

Panoro Energy, the Africa-focused exploration and production company, has achieved record production in 2025

In an operational and financial update in advance of its full year 2025 results, Julien Balkany, executive chairman of Panoro, commented, “Our average net production was 10,263 bopd for the full year, and is a new record high for Panoro. Our crude oil liftings of around 3.1 million barrels were in line with previously communicated expectations.”

Of the 10,263 bopd, 5,813 bopd came from Gabon, 2,919 bopd from Equatorial Guinea and 1,530 bopd from Tunisia.

“Looking ahead, we enter 2026 with significant exciting growth projects underway. As planned, we will resume drilling in Gabon with four new production wells at MaBoMo Phase 2 which we expect will increase gross production at Dussafu to the nameplate capacity of around 40,000 bopd when all wells are onstream. Once processed and analysed the new state-of-the-art seismic data we have recently acquired covering the Niosi, Guduma and Dussafu blocks will allow us to confirm future high-impact drilling targets and further unlock the considerable upside potential of those blocks.

"In Equatorial Guinea we have high-graded the Estrella discovery on Block EG-23 as a potential fast-track appraisal and development project that could be tied back to existing infrastructure, and have an extensive inventory of additional prospects under evaluation.”

Numerous ongoing productive and asset integrity projects will continue in Equatorial Guinea throughout 2026 and contribute to field life extension.

Production has remained stable at the TPS Assets in Tunisia where Panoro holds 49%, with ongoing workovers and upcoming optimisation campaigns expected to positively impact production

The company distributed a total of NOK 411mn (US$41.7mn) to shareholders in the calendar year, with quarterly cash distributions amounting to NOK 320mn (US$32.5mn) complemented with NOK 91mn (US$9.3mn) through share buybacks.

“With healthy cash position at 2025 year-end of approximately US$78mn, we continue to be well positioned to deliver on our organic and external growth strategy coupled with our shareholder returns policy in order to maximise value for all our stakeholders,” Balkany concluded.