Panoro Energy – Dussafu Drilling Update
Oslo, 3 April 2023 – Panoro Energy ASA (“Panoro” or the “Company”) is pleased to provide the following update on successful drilling operations at the Hibiscus Ruche Phase I development at the Dussafu Marin Permit offshore Gabon (Panoro 17.5 percent working interest).
The DHIBM-3H production well has been successfully drilled, completed and handed over to production operations without incident. The well encountered good quality oil saturated reservoir sands in the regionally prolific Gamba formation and will now be put onstream in the coming days.
The 20-kilometre pipeline connection between the BW MaBoMo production facility installed at the Hibiscus field and the FPSO BW Adolo moored at the producing Tortue field has been commissioned and all facilities and infrastructure are ready to receive oil from the new Hibiscus Ruche wells as they are drilled and completed. Commissioning and start-up of the new gas lift compressor to support production from all six existing wells at the producing Tortue field will follow first oil activities on the FPSO BW Adolo.
The well was drilled with the Borr Norve jack-up drilling rig in 116 metres water depth and is the first in a six-well production drilling campaign at the Hibiscus and Ruche fields which is expected to deliver on a gross basis approximately 30,000 barrels oil per day of new production when all wells are completed and onstream. The Borr Norve rig has now commenced drilling the second planned production well on the Hibiscus field, DHIBM-4H.
John Hamilton, CEO of Panoro, commented:
“The successful completion of this first production well is a key milestone in our material organic growth plan towards production of 12,500 bopd net to Panoro when all six new Hibiscus Ruche Phase I wells are onstream. We are in the most active period of continual drilling in Panoro’s history that will see at least 10 wells drilled in Gabon and Equatorial Guinea over the next 12 to 15 months and unlock significant potential in our diversified portfolio of producing assets.”
Enquiries
Qazi Qadeer, Chief Financial Officer
Tel: +44 203 405 1060
Email: investors@panoroenergy.com
About Panoro Energy
Panoro Energy ASA is an independent exploration and production company based in London and listed on the main board of the Oslo Stock Exchange with the ticker PEN. Panoro holds production, exploration and development assets in Africa, namely interests in Block-G, Block S (pending approval) and Block EG-01 (pending ratification), offshore Equatorial Guinea, the Dussafu License offshore southern Gabon, the TPS operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia, and interests in an exploration Block 2B, and Technical Co-operation Permit 218 in South Africa.
Visit us at www.panoroenergy.com.
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