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
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised