Panoro Energy ASA provides the following update on operations offshore Equatorial Guinea
At Block G the planned three-well infill drilling campaign has commenced utilising the Island Innovator semi-submersible drilling rig. The first new infill well is expected onstream around the end of Q1, with all three wells expected onstream by mid-year. Panoro holds a 14.25% interest in Block G. Partners in Block G are Trident Energy (operator), Kosmos Energy and GEPetrol.
Following completion of the Block G infill drilling campaign, the Island Innovator rig will relocate to Block S where it will drill the Kosmos Energy-operated Akeng Deep infrastructure-led exploration (ILX) well. The Akeng Deep ILX well is intended to test a play in the Albian, targeting an estimated gross mean resource of ~180 mn barrels of oil in close proximity to existing infrastructure at Block G. Panoro holds a 12% interest in Block S. Other partners in Block S are GEPetrol and Trident Energy who are delivering the drilling program on behalf of the joint venture partners.
John Hamilton, CEO of Panoro, commented, “We are pleased to have commenced the planned infill drilling campaign at Block G which we expect to materially increase gross production at the Ceiba field and Okume Complex from the 2023 average level of 25,000 bopd once all three new wells are onstream. With the high-impact Akeng Deep infrastructure led exploration well at Block S due to follow the infill drilling campaign, and work underway evaluating prospectivity at the Panoro operated Block EG-01, we have an exciting organic growth opportunity set available to us in Equatorial Guinea.”
