The African Energy Chamber has endorsed Panoro Energy’s move to acquire a 40.375% stake in Equatorial Guinea’s Block G from Kosmos Energy, a deal that deepens Panoro’s presence in the country and bolsters long-term output.
Kosmos Energy has agreed to divest its non-operating interests in the Ceiba Field and Okume Complex to Panoro for up to $219.5 million, comprising $180 million upfront and as much as $39.5 million in contingent payments. The transaction, expected to close in mid-2026, is pending approval from the Central African Economic and Monetary Community.
According to the African Energy Chamber, the acquisition represents a strong vote of confidence in Equatorial Guinea’s upstream sector. By expanding its stake in mature producing assets, Panoro is securing stable medium-term production while supporting capital rotation across the industry. The Chamber views this as a model of practical portfolio optimization that grows African operatorship and sustains investment across the region.
The deal raises Panoro’s total interest in Block G to 54.625%. The Ceiba Field, onstream since 2000, and the Okume Complex, producing since 2006, remain key pillars of national output. Combined, they have historically delivered 30,000–35,000 barrels per day, supported by established infrastructure including the Sendje Ceiba FPSO and multiple platforms and subsea wells. Ongoing infill work continues to extend field life toward the 2040 PSC expiry.
The acquisition comes at a critical moment for Equatorial Guinea as the country pushes to stabilise declining crude production while advancing its gas-focused agenda through initiatives such as the Gas Mega Hub and the upcoming EGRonda 2026 licensing round.
Panoro’s broader African footprint—including Gabon, Tunisia and South Africa—positions it as a growing regional independent. The company delivered record production above 10,000 bpd in 2025 and anticipates further growth with its expanded Block G stake. Kosmos Energy, meanwhile, will redirect capital toward higher-return assets across Ghana, the U.S. Gulf of Mexico, and the Greater Tortue Ahmeyim LNG project offshore Mauritania and Senegal.
As noted by NJ Ayuk, the deal reinforces that African producing assets continue to attract committed investors and that strategic partnerships and disciplined capital deployment are shaping the next phase of the continent’s energy development.
