Panoro Energy – Heads of Terms Agreed for Block EG-23 Offshore Equatorial Guinea
Oslo, 4 April 2024 – Panoro Energy ASA (“Panoro” or the “Company”) is pleased to announce that it has reached an agreement with the Government of Equatorial Guinea on the key terms and conditions for the award of offshore Block EG-23. The Heads of Terms agreement signed by Panoro, GEPetrol (the national oil company), and the Ministry of Mines and Hydrocarbons paves the way for a period of exclusive negotiations to finalise a Production Sharing Contract (“PSC”) for Block EG-23 and development of a work programme and budget. Panoro envisages its participating interest in Block EG-23 upon