Panoro Energy completed the acquisition of a Dussafu asset from Tullow Oil for $39m.

Panoro Energy, a Norway-based exploration and production company principally engaged in the exploration of oil and gas, completed the acquisition of a Dussafu asset from Tullow Oil, an independent oil & gas, exploration and production group, for $39m. “The completion of this transaction is the final step of our asset sale programme in Uganda, Equatorial Guinea and Gabon. These sales have provided over $700 million in liquidity and have helped both lower our cost base and support our comprehensive refinancing. With no significant debt maturities until 2025, Tullow has the financial stability to deliver on its business plan,” Rahul Dhir, Tullow Oil CEO.