Panoro Completes OMV Tunisia Acquisition
London-based international independent oil and gas company Panoro Energy ASA announced Friday it has completed its $65 million acquisition of OMV Tunisia Upstream GmbH from Vienna-based integrated oil and gas company OMV.Panoro Tunisia Production AS (PTP, 60 percent owned) now holds an indirect 49 percent interest in five oil producing concessions in Tunisia ( the Cercina/Cercina Sud, El Ain/Gremda, El Hajeb/Guebiba and Rhemoura) with net 2P reserves of 8.1 million barrels as at July 1, 2018, and current net production of approximately 2,000 bopd from 14 wells.
First Oil at Aje
Panoro Energy ASA (“the Company” or “Panoro” with OSE ticker: "PEN"), the independent E&P company with assets in Nigeria and Gabon, notes the recent announcement made by its partner, the Operator of OML 113 Yinka Folawiyo Petroleum Company Limited, about the first oil production from the Aje field, offshore Lagos having commenced yesterday - 3 May 2016. Subsea installation activities had been underway at Aje since January and were completed in early March ready for the hook-up of the Front Puffin FPSO, which arrived in Nigeria on the 16th of March.
