Panoro acquires Tullow assets at $105m

Panoro Energy ASA has acquired Tullow Oil Plc assets in Equatorial Guinea at $105m in a purchase agreement that allows Tullow to sell its entire interest in Equatorial Guinea.

The agreement had a Pan African Law Conglomerate, Centurion Law Group, as local counsel.

Centurion’s Equatorial Guinea team Director, Manuel Oliveira, said, “We are excited to have assisted Panoro Energy on this landmark oil and gas transaction.

“This was a significant transaction that involved cooperation between experienced attorneys from Centurion and Panoro’s team.”

CLG’s senior associate, Cindy Ojogbo, described the project as exciting, and that the company was able to seamlessly address the many and varied needs of Panoro.

“This type of deal, once again, underscores Centurion’s ability to leverage its unparalleled energy industry experience to assist great companies in Africa,” she added.

The transaction forms part of Tullow’s $180m sale of assets to Panoro in West Africa, which has been approved by the government of Equatorial Guinea.

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