Panoro Energy, an independent E&P company, completed the acquisition of Equatorial Guinea assets of Tullow Oil, a major supplier of oil, operating across Africa and South America, for $180m. "These are important, value accretive deals for Tullow that will have a positive effect on our financial position as we look to further reduce our net debt and continue constructive discussions with our creditors. These transactions are also in line with our strategy of investing our capital on cash-generative, high return investment opportunities in our core portfolio," Rahul Dhir, Tullow Oil Chief Executive Officer.