OIL & GAS : Panoro Energy targets 20,000 barrels per day through Central Africa

In a global context marked by the restructuring of energy flows and the search for new production drivers, Panoro Energy is reinforcing its footprint in Central Africa. With assets in Gabon and Equatorial Guinea, the Norwegian oil company intends to accelerate its regional growth through a $55 million investment programme in 2026. The stated objective is to push production beyond 20,000 barrels per day by 2027.

To achieve this target, Panoro is primarily focusing on optimizing its producing assets as well as launching new drilling campaigns in the Gulf of Guinea. In Gabon, where the group holds stakes in the Dussafu Marin fields, the company is benefiting from momentum driven by several discoveries made in recent years. The project, operated in partnership with BW Energy, is currently one of the main growth engines of the Norwegian firm.

Equatorial Guinea also represents a strategic pillar in the group’s ambitions. In this Central African country historically dependent on hydrocarbons, Panoro continues to develop its offshore assets in a context where authorities are seeking to revive foreign investment in exploration and production. According to data from the Organization of the Petroleum Exporting Countries (OPEC), Equatorial Guinea’s oil output continues to suffer from aging mature fields, pushing operators to intensify development programmes.

Across the continent, Panoro’s strategy reflects the renewed interest of independent producers in African petroleum basins. While several major oil companies are gradually redirecting investments toward low-carbon energy or more profitable regions, mid-sized firms are seeking to strengthen their presence in offshore assets still considered competitive. Central Africa, with its significant reserves and existing infrastructure, is emerging as a strategic zone for these specialized players.

The group’s financial outlook remains closely tied to global crude oil price trends. Following the high volatility observed since 2022, independent producers are now prioritizing targeted investments capable of generating rapid cash flows. Panoro Energy states that it intends to maintain strict financial discipline while continuing to scale up its regional production.

Beyond production targets, this strategy also reflects a broader ambition to consolidate Central Africa’s role in the global oil industry. Between energy sovereignty challenges, local economic financing needs, and international competition for natural resources, Panoro’s announced investments highlight the continued attractiveness of African hydrocarbons despite the ongoing energy transition.

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Esther Grâce

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