Petronor is considering both more asset equity stakes and possible mergers
Petronor eyes African expansion
The Norwegian firm is looking for new opportunities on the continent
Oslo-listed independent Petronor is seeking to expand further in sub-Saharan Africa, CEO Knut Sovold tells Petroleum Economist. The firm—a joint venture between Norway’s Norenergy and Abu Dhabi’s Petromal—recently increased its stake in the Republic of Congo’s PNGF Sud field, operated by Anglo-French explorer Perenco, to 16.8pc from 10.5pc. The move follows Petronor’s takeover of fellow indie African Petroleum in 2019. Now the firm is seeking to expand further, and is considering both more equity stakes in assets and possible mergers. “We are growing into the role of operator,” Sovold says, and whether expanding through equity or takeovers, the key will be shareholder value, he adds. The co
Also in this section
13 January 2025
With Namibia, Guyana and Brazil playing starring roles and important innovations being developed, business as usual has never looked so good
13 January 2025
Regional cooperation over the development of gas resources has the potential to bring peace and prosperity to the East Mediterranean
13 January 2025
Significant expansions are underway in both liquefaction and regasification capacity as LNG firms up its position as a long-term solution for the world’s energy needs
10 January 2025
New Petroleum Economist OPEC+ oil survey sees group improve compliance to ensure oil market stability going into 2025
