Panoro Energy has struck a deal to buy assets owned by Tullow Oil in Equatorial Guinea and Gabon for up to $180 million.
Panoro Energy has reported higher production in the first quarter but lower revenues, as a result of fewer liftings and lower prices.
Panoro Energy will drill a production well in Tunisia in May, while three workovers are under way and should be on line by the end of March.
Panoro Energy has struck a deal to sell its stake in Nigeria’s OML 113 to PetroNor E&P.
BW Offshore’s work on the Hibiscus find suggests it may hold 40-50 million barrels, up from the initial estimate of 12mn barrels.