Offshore staff
OSLO, Norway — Panoro Energy has confirmed the award of Block EG-01 offshore Equatorial Guinea, first announced in February, following government approval.
The company has secured a 56% operated interest alongside Kosmos Energy (24%) and GEPetrol (20%).
In addition, the company now has all approvals needed to complete its farm-in to the Kosmos-operated offshore Block S, announced last October.
The company has a 12% interest, with Kosmos and Trident Energy each retaining 34%, and GEPetrol 20%. They plan an exploration well next year to test an Albian play in the 180-MMbbl Akeng Deep prospect, within tieback range of the Sendje-Ceiba FPSO.
Block EG-01, in water depths ranging from 30 m to 500 m, is covered by 3D seismic. During the initial three-year term, the partners will conduct subsurface studies to further define and assess the prospectivity, with the option to then enter a further two-year period with a one-well commitment.
Main hydrocarbon plays are Eocene sands and Upper Cretaceous turbidites analogous to the Block G plays where more than 1 bbl have been discovered, with potential for deeper Albian targets, similar to the targeted Block S prospect.
Block S covers 1,245 sq km in water depths ranging from 450 m to 1,500 m, again covered by 3D seismic. The acreage surrounds the producing Ceiba Field and is adjacent to the Trident-operated Okume Complex, where Panoro has a 14.25% interest.
04.20.2023
