Panoro Energy expands in Africa, raising questions about Tunisia's role

Panoro Energy, an independent oil and gas exploration and production company, is accelerating its expansion across Africa with a new acquisition in Ivory Coast. The company announced it is purchasing a 9.09% indirect stake in the offshore gas block CI-27 from DNO ASA for $80 million. This move strengthens Panoro's portfolio, which already includes producing assets in Tunisia, Gabon, and Equatorial Guinea.

The acquisition represents a significant step in Panoro's growth strategy, increasing its exposure to the West African gas sector. The acquired stake yielded a net production of 3,334 barrels of oil equivalent per day (boepd) in the first half of 2026. It also holds 9.4 million barrels of 2P reserves and 5 million barrels of 2C resources. With this deal, Panoro's pro forma net production rises to about 20,800 boepd, bringing it closer to its target of surpassing 25,000 boepd.

This latest operation follows Panoro's expansion in Equatorial Guinea, where it increased its stake in the G block to 54.625% in June 2026 through a $127 million transaction. The company's strategic growth in Africa, marked by geographical diversification and a rapid increase in production, now prompts questions about the role and prospects of Tunisia within its medium-term portfolio.

Panoro has been present in Tunisia for several years through the TPS assets, holding indirect stakes in the fields and the operating company. Tunisia is one of the four African countries where Panoro currently has production. While the company's investment decisions are driven by asset potential, profitability, and strategic choices, its current strategy of rapid production growth and diversification warrants close observation for Tunisia, especially as the country seeks to revitalize its energy sector.