Panoro Energy Acquires DNO’s Côte d’Ivoire Assets for $86.5 Million
admin 
**DNO ASA to Exit Côte d’Ivoire in $86.5 Million Deal with Panoro Energy**
Norwegian operator DNO ASA has reached an agreement to divest its oil and gas operations in Côte d’Ivoire to Panoro Energy ASA for a total consideration of $86.5 million. The move allows DNO to further focus its efforts on its growing North Sea portfolio.
Under the terms of the agreement, Panoro will acquire DNO CI LLC, the entity holding DNO’s Ivorian assets. The $86.5 million purchase price will be settled through a combination of $65.1 million in cash and 7 million newly issued shares in Panoro.
The assets being sold currently contribute a net production of approximately 3,300 barrels of oil equivalent per day (boed) to DNO. As of the transaction’s effective date, the portfolio contains 9.4 million barrels of oil equivalent (MMboe) in net proved plus probable (2P) reserves, alongside 5.0 MMboe in net 2C contingent resources.
DNO originally took ownership of the Côte d’Ivoire business in 2022 through an acquisition from RAK Petroleum plc. However, the company noted that these assets have become less strategic following significant expansion in the North Sea, which has helped push DNO’s total company-wide net production to nearly 150,000 boed.
Since entering Côte d’Ivoire in October 2022, DNO estimates it has achieved an annualized internal rate of return of roughly 24% on its investment.
The transaction is projected to close in mid-September 2026.
