Oslo, 27 February 2024: PetroNor E&P ASA ("PetroNor" or the "Company") confirms
that 330,572 bbls of oil were lifted and sold from the Djeno Terminal in
February 2024, generating a cash inflow of USD 27.4 million at a realised price
of USD 82.87 per barrel.
With this lifting, which was sold to ADNOC, the National Oil Company of Abu
Dhabi, the Company achieved a new operational milestone by exporting under its
own capacity as a party to the Djeno terminal in Congo. The arrangements with
the Djeno terminal increase the options available to the Company to bring to
market its PNGF Sud oil production. The Company welcomes ADNOC as a potential
partner in future oil sales and associated financing.
For further information, please contact:
Investor Relations
Email: ir@petronorep.com
www.petronorep.com
About PetroNor E&P ASA
PetroNor E&P ASA is an Africa-focused independent oil and gas exploration and
production company listed on Oslo Børs with the ticker PNOR. PetroNor E&P ASA
holds exploration and production assets offshore West Africa, specifically the
PNGF Sud licenses in Congo Brazzaville, the A4 license in The Gambia and OML-113
in Nigeria. Under the terms of the PNGF Sud licences, a proportion of oil
produced is used to pay royalties and tax to the Government. The remaining oil
produced is considered "entitlement oil" that can be lifted by the Company and
sold in the market.