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Wednesday, 19 August 2026

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DNO Sells Côte d'Ivoire Oil and Gas Business to Panoro Energy for USD 86.5 Million

DNO ASA has agreed to sell its Côte d'Ivoire oil and gas business to Panoro Energy ASA for USD 86.5 million, according to World Oil.

The consideration splits into USD 65.1 million in cash and 7 million newly issued Panoro shares, World Oil reported. Closing is expected in mid-September 2026.

The assets being transferred are producing roughly 3,300 barrels of oil equivalent per day net to DNO, per World Oil. At the transaction's effective date they carried 9.4 MMboe of net proved plus probable reserves and 5.0 MMboe of net 2C contingent resources.

DNO bought the business from RAK Petroleum plc in 2022. The seller estimates an annualized internal rate of return of approximately 24% on the Côte d'Ivoire investment since it entered the country in October 2022, World Oil reported.

Source: worldoil.com (opens in a new tab)1 sourcePermalink