Panoro Energy expects growth to continue this year, targeting 40% more production than 2023, despite problems around drilling in Equatorial Guinea.
Past drilling on the block has suggested there is potential, with an “extensive prospect inventory” within tie-back distance to Ceiba and the Okume complex.
Trident Energy has signed up a rig from Island Drilling for work offshore Equatorial Guinea.
Trident Energy will begin drilling in Equatorial Guinea’s Block G on June 22, following the arrival of the Sapphire Driller rig.
Panoro Energy has struck a deal to buy assets owned by Tullow Oil in Equatorial Guinea and Gabon for up to $180 million.
Kosmos Energy has reported a net loss of $36 million for the fourth quarter of 2019, although free cash flow reached $139mn for the period.
Trident Energy has begun a 4D seismic survey offshore Equatorial Guinea on Block G.
Equatorial Guinea expects $1.4 billion to be invested in the country in the 2020 fiscal year, with a mix of exploration and appraisal drilling.
Kosmos Energy notched up $16 million in net income for the third quarter, while also celebrating a discovery offshore Equatorial Guinea.