Panoro in early discussions to offload Aje field asset
Oslo-listed Panoro Energy is in talks with third parties about acquiring its stake in the Aje oil, gas and condensate field off Nigeria, although a farm-out is also possible, Upstream reports.
Panoro participated in the initial Aje development which targeted the field’s oil resources but, as a small company, is reluctant to invest in a future gas development that could cost about $400 million.
The proposed gas project could involve sending output to markets via the nearby West Africa Gas Pipeline (WAGP). Panoro has a 16% stake in Aje, which is located in OML 113 off Lagos.