Panoro Energy ASA is pleased to announce that the Direction Général de
Hydrocarbures (DGH) has approved the Development and Production Plan
(FDP) for Ruche, which includes the Ruche A (formally Ruche), Ruche B
(Tortue), Ruche C (Moubenga) and Ruche D (Walt Whitman) discoveries.
The FDP is based on a centrally located Floating Production, Storage and
Offloading vessel (FPSO) with sub-sea wells tied back from each of these
discoveries.
Front End Engineering Design (FEED) studies are already underway, and
once completed a Final Investment Decision (FID) will be taken by the
Dussafu partners. FID is scheduled to be made in early Q1-15 and based
on the project schedule, production is expected to start in Q4-16.
The FDP approval by the DGH is an important milestone for the
development of Ruche. Panoro look forward to continuing working together
with our partner Harvest (Operator) and the Gabonese ministry to move
forward with the development of these discoveries and to further unlock
the significant pre-salt exploration potential within the Dussafu
license.
Panoro Energy holds a 33.33% stake in the Dussafu Marin permit. The
permit is operated by Harvest Dussafu, B.V. an affiliate of Harvest
Natural Resources, Inc.
For further information, please contact:
Jan Kielland, Chief Executive Officer
Cell: + 47 4156 9974
Email: jan.kielland@panoroenergy.com
Nishant Dighe, Chief Operating Officer
Cell: +44 7747807439
Email: nishant.dighe@panoroenergy.com
Please visit www.panoroenergy.com for more information. Panoro Energy
ASA is listed on the Oslo Stock Exchange (Ticker code: "PEN").