Panoro Energy is seeking additional oil and gas assets in Equatorial Guinea after strengthening its position in the country’s offshore sector through the acquisition of a larger stake from Kosmos Energy, according to Reuters.
Panoro agreed to purchase an additional 40.3 percent interest in Block G from Kosmos Energy, a block that includes the producing Ceiba field and Okume complex. Following the transaction, Panoro becomes the largest shareholder in Block G, which is operated by Trident Energy, Offshore Energy Digital reported. The deal significantly increases Panoro’s production exposure offshore Equatorial Guinea.
Company executives said Panoro intends to participate in the country’s upcoming oil and gas licensing round scheduled for April, assessing multiple blocks with what it described as strong exploration and development potential. In addition to Block G, the company is also advancing development plans for its EG-23 block, located near the Alba oil and gas complex, as part of its broader growth strategy, according to Offshore Energy Digital.
Mining Connection noted that the move aligns with Panoro’s strategy to expand its asset base and production footprint across West and Central Africa. Beyond Equatorial Guinea, the company maintains interests in Gabon and Tunisia, positioning itself for longer-term regional growth while pursuing disciplined capital allocation.
