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Panoro Energy ASA is an independent exploration and production company in the oil and gas industry. It is engaged primarily in the exploration, development, and production of oil and natural gas resources. The company operates across several important geographic regions in West Africa, including Tunisia, Gabon, and Nigeria. Panoro Energy's portfolio includes a mix of production, development, and exploration assets, providing potential growth opportunities through diverse energy resources. Established to leverage its expertise in emerging markets, the company is headquartered in Oslo, Norway. Its strategic focus is on delivering efficient production and expanding its asset base through selective opportunities in sub-Saharan Africa.

Shell is an integrated energy company involved in the exploration, production, refining, and marketing of oil and natural gas, as well as the manufacturing and distribution of chemicals. The company operates across several segments, including upstream, integrated gas, downstream, and renewables and energy solutions. Founded in 1907, Shell is headquartered in The Hague, Netherlands, and operates in over 70 countries worldwide. Its strategic strengths include a diversified portfolio with significant investments in liquefied natural gas (LNG) and a growing focus on renewable energy and decarbonization efforts. The company's global presence and extensive supply chain network contribute to its significant competitive positioning in the energy sector.