Panoro Energy: President steps down

*Panoro Energy.

*Panoro Energy.

*Aje-5 Well Completed

16 October 2015 – West Africa-focused energy firm Panoro Energy announced Friday that Nishant Dighe will step down as the company’s president and chief operating officer, effective November 30.

The company also revealed that the Aje-5 production well located on the OML 113 license, offshore Nigeria, has been successfully completed.

With over 20 years of experience in oil and gas, Dighe originally trained as a reservoir engineer and has held technical positions in ExxonMobil in the UK and US on assets located in the North Sea, Europe, US, Middle East and Africa.

He has also worked with Sasol and Energy Equity Resources. In 2007 Nish co-founded Pan-Petroleum, which ultimately led to the creation of Panoro Energy.

Dighe will continue as an advisor to Panoro for a transitional period, according to the company.

Julien Balkany, chairman of the Panoro board, commented in a company statement: “On behalf of the company and the board of directors we express our sincere appreciation to Nish for his dedication, valuable contribution, and hard work over the years. Nish has played a key role in the establishment, growth and transformation of the company. We wish him the very best in his future endeavours.”

Following its completion, the Aje-5 well has been suspended ready for connection to oil production facilities prior to commencement of output.

The Scarabeo 3 (mid-water semisub) has been moved to re-enter the existing Aje-4 well for completion as a second Cenomanian production well. Panoro currently estimates the project timing and costs to be largely on track.

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