Panoro Energy Enters Côte d’Ivoire with $80 Million Offshore Gas Acquisition
Panoro Energy is expanding its African upstream portfolio into Côte d’Ivoire after agreeing to acquire an indirect 9.09% interest in the producing offshore Block CI-27 from Norwegian energy company DNO ASA for $80 million.
The transaction, expected to close in autumn 2026, marks Panoro’s entry into Côte d’Ivoire and strengthens its position as a growing independent African oil and gas producer.
Block CI-27 is primarily a natural gas asset, with around 95% of production weighted towards gas.
Panoro’s acquired interest produced 3,287 barrels of oil equivalent per day (boepd) in 2025, increasing to 3,334 boepd in the first half of 2026.
The block supplies gas to Côte d’Ivoire’s domestic market under long-term contracts, with most of the gas used for power generation in Abidjan. Liquids production is sold to a local refinery.
The acquisition is expected to increase Panoro’s group production by approximately 23%, taking pro forma output to around 20,800 boepd, while increasing its 2P reserves by about 11%.
Panoro is financing the acquisition through a combination of equity and debt, including seven million new shares issued to DNO and a $50 million senior unsecured bond.
The company sees Côte d’Ivoire as an attractive market with further upstream growth opportunities.
The acquisition provides Panoro with exposure to the country’s growing gas sector while establishing a platform for potential expansion in one of West Africa’s increasingly important oil and gas markets.
