Panoro unit approves FID on development of Dussafu oil fields

Pan Petroleum Gabon BV, a fully owned subsidiary of Panoro Energy ASA, London, reported its approval of the financial investment decision for the development of the Dussafu oil fields offshore southern Gabon.

Pan Petroleum Gabon BV, a fully owned subsidiary of Panoro Energy ASA, London, reported its approval of the financial investment decision for the development of the Dussafu oil fields offshore southern Gabon.

The development plan will comprise the drilling of two initial horizontal wells at Tortue in the Gamba and Dentale reservoirs. An appraisal side-track also will be drilled northwest of Tortue field. The two production wells will be tied back to a leased floating production, storage, and offloading vessel via subsea trees and flowlines.

The Dussafu joint venture partners are currently commissioning an independent review by Netherland Sewell & Associates to update the estimates and to move these contingent resources to reserves further to the recent FID, Panoro said.

Panoro Chief Executive Officer John Hamilton said, “The FID is a very important milestone for Panoro and first oil at Dussafu remains on track to be achieved” during second-half 2018.

Earlier this year, a wholly owned subsidiary of BW Energy Holdings Pte. Ltd. entered a definitive agreement to acquire a 25% working interest in the Dussafu production-sharing contract from Pan Petroleum Gabon for $12 million. The deal left the seller’s interest at 33.33% (OGJ Online, Feb. 24, 2017).

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