PetroNor E&P’s acquisition of a major stake in the Aje field offshore Nigeria has been approved by the authorities, clearing the path for a new floating production storage and offloading to be brought onto the asset.

The deal could also prepare the ground for a potential floating liquefied natural gas project at the field.

Oslo-listed PetroNor struck a deal in October 2019 to buy Panoro Energy’s 12.1913% economic interest in Aje in Oil Mining Licence 113, but the transaction was held up by bureaucracy and Covid-related issues.