On November 20, 2024 the Norwegian oil company Panoro, which is expanding its presence in Central Africa, released its 3rd quarter 2024 results,revealing a production surge of almost 200,000 barrels by late September driven by its operations in Gabon. In first nine months of the year, the oil company achieved production of more than 200 000 barrels of oil while the average realization price for the total production was not disclosed ,the company noted that it was more than $ 80 per barrels for a portion of the production. This achievement marks a growth of over 7% corresponding to an increase of 174454 barrels compared to the same period in 2023. Although these results represent Panoro Energy's Pan-African activities, the company emphasizes that, this growth was particularly robust in its Gabonese operations. Indeed, in Gabon, the company discovered and brought into production new oil fiels in the 3rd quarter of 2024. Panoro Energy's production in the country reached a record 21184 barrels per day in 2nd quarter, representing an increase of 6233 barrels per day over the past 3 months. These results are supported by the discovery of estimated unrisked gross resources of more than 20 billion barrels of oil . Overall, Panoro Energy anticipates a substantial rise in its crude oil production for 2024 compared to the previous year : by achieving a production volume of 3,5 million barrels in 2024. The company anticipates that this growth will be largely driven by the final quarters of 2024 ,with an expected production of 1400 000 barrels , it's worth noting that more than 30 % of the total of 2024 production is expected to be realized in the 4th quarter. For 2024 , Panoro Energy has earmarked a total investment budget of more than 100 billion Cfa Francs to support its activities in Central Africa. Importantly Panoro Energy continues to invest heavily in the development of its business and the growth of its reserves demonstrating its ongoing commitment to expansion.

Christelle koambi