PANORO ENERGY AS
Panoro Energy AS is a Norwegian private limited company (aksjeselskap) registered with the Brønnøysund Register Centre under organisation number 921 000 413. It was founded on 4 June 2018, initially under the shelf-company name WR START UP 232 AS, and was entered in the Norwegian Register of Business Enterprises (Foretaksregisteret) on 14 June 2018 before being renamed shortly afterwards. Its registered business address is c/o Advokatfirmaet BAHR AS, Tjuvholmen allé 16, 0252 Oslo, and its registry status is active.
Panoro Energy AS should not be confused with Panoro Energy ASA (organisation number 994 051 067), a separate Norwegian legal entity of a different legal form. Panoro Energy ASA is an allmennaksjeselskap (public limited company) listed on the main board of Oslo Børs under ticker PEN, whereas Panoro Energy AS is a private aksjeselskap that is not itself listed. Panoro Energy AS carries the primary industry classification “extraction of crude petroleum” (NACE code 06.100) in the Brønnøysund register, but its registered articles of association describe its object as investment in other companies and related business, indicating it functions as an intermediate investment and holding entity within its corporate group rather than as a direct field operator.
Public disclosures published by the wider Panoro Energy group describe upstream oil and gas production, development and exploration activity in Gabon, Equatorial Guinea, Tunisia and South Africa, but these operating details relate to the listed group as a whole and have not been separately confirmed as activities carried out directly by Panoro Energy AS. The company’s most recent annual accounts on file with the Norwegian register cover the 2025 financial year; company-level financial figures for this specific entity were not independently obtained for this profile. No material recent corporate events specific to this entity, beyond its 2018 formation and brief renaming, were identified in the sources reviewed.
- Company fundamentals
- Corporate linkage & group structures
- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
1
Shareholders of Panoro Energy AS
Panoro Energy AS has one disclosed shareholder. According to Zavia’s on-file shareholder register data (information dated 2 August 2026), Sfax Petroleum Corporation AS holds 30,000 shares, representing 100% of the issued share capital. This figure is corroborated by Panoro Energy AS’s own registered share capital on file with Brønnøysundregistrene, which likewise records total share capital of NOK 30,000 divided into 30,000 shares. No separate share-class information or nominal-versus-market value split was disclosed beyond these aggregate figures. As a privately held Norwegian AS, Panoro Energy AS is not subject to the major-shareholder reporting thresholds that apply to listed companies, and the available disclosure appears to represent the complete share register for this entity rather than only major or reportable holdings.
Ultimate beneficial ownership
Sfax Petroleum Corporation AS (Norway, organisation number 821 293 502) is itself a Norwegian investment holding company, registered at the same administered address as Panoro Energy AS. On-file group-linkage data places Sfax Petroleum Corporation AS beneath Panoro Energy ASA (organisation number 994 051 067), the Oslo Børs-listed entity at the top of the wider group (ticker PEN), but the ownership percentage for that link is not disclosed in the sources reviewed, so no multiplied-through effective ownership percentage can be calculated for any beneficial owner beyond Sfax Petroleum Corporation AS. Because Panoro Energy ASA is a publicly listed company with a dispersed shareholder base (113,444,047 shares outstanding, per the company’s own investor disclosures), no single natural-person ultimate beneficial owner of Panoro Energy AS could be identified from the sources reviewed. No verified UBO is reported for this entity.
Data availability
Direct shareholder information for Panoro Energy AS is assessed as full: a single 100% shareholder is disclosed and its 30,000-share holding matches the company’s registered share capital. Beneficial ownership information above the level of the immediate corporate shareholder is assessed as not public, consistent with Norway’s disclosure regime for private AS companies, which does not require the underlying natural-person owners of a corporate shareholder to be filed with the Brønnøysund Register Centre.
Sources
Brønnøysundregistrene, enhetsregisteret record for organisation number 921 000 413, https://data.brreg.no/enhetsregisteret/api/enheter/921000413, retrieved 16 September 2026. Brønnøysundregistrene, enhetsregisteret record for organisation number 821 293 502 (Sfax Petroleum Corporation AS), https://data.brreg.no/enhetsregisteret/api/enheter/821293502, retrieved 16 September 2026. Panoro Energy ASA official investor information, https://www.panoroenergy.com/, retrieved 16 September 2026. Zavia on-file shareholder register data, information dated 2 August 2026.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| SFAX PETROLEUM CORPORATION AS | 100% |
Officers
9
Directors and officers of Panoro Energy AS
According to the Brønnøysund Register Centre’s official role register for Panoro Energy AS (organisation number 921 000 413, retrieved 16 September 2026), the company currently has one active registered board member: Qazi Muhammad Abdul Qadeer, born February 1978, who holds the role of styrets leder (board chair). This appears to be the company’s only board seat, and the role has stood on file since shortly after the company’s 2018 registration. No managing director (daglig leder) is registered for this entity, which is permitted under Norwegian company law for a private AS of this size. The company’s approved auditor is Ernst & Young AS (organisation number 976 389 387) and its approved external accountant is Azets Insight AS (organisation number 983 338 917); both are registered as corporate role-holders rather than natural persons.
Zavia’s on-file officer data for this entity separately lists a broader set of individuals with executive-style titles such as Chief Executive Officer, President & COO, Technical Director and Secretary, including one corporate “director” entry that appears to name an accounting-services firm. None of these titles or names correspond to any role currently registered against organisation number 921 000 413 in the Brønnøysund register. They more plausibly reflect senior personnel or service providers of the wider Panoro Energy group rather than officers formally appointed to this specific holding entity. This discrepancy could not be resolved from the sources reviewed and is flagged here rather than reconciled or repeated as fact.
Data availability
Brønnøysundregistrene publishes current board, audit and accounting role-holders for Norwegian AS companies but does not publish resigned or historical officers, and it does not disclose nationality or country of residence for registered individuals. Nationality for Qazi Muhammad Abdul Qadeer is not disclosed in the sources reviewed and is reported here as “Not disclosed” rather than inferred from his name or any address on file.
Sources
Brønnøysundregistrene, role register (roller) for organisation number 921 000 413, https://data.brreg.no/enhetsregisteret/api/enheter/921000413/roller, retrieved 16 September 2026. Zavia on-file officer register data.
Registry feed — rows exactly as filed with the source register, including entries the profile above does not cover.
Group Structure
Group structure of Panoro Energy AS
Panoro Energy AS is not an independent company; it forms part of a multi-tier corporate group. Its verified immediate parent is Sfax Petroleum Corporation AS (Norway, organisation number 821 293 502), which holds 100% of its issued share capital. On-file group-linkage data additionally places Sfax Petroleum Corporation AS, and by extension Panoro Energy AS, beneath Panoro Energy ASA (Norway, organisation number 994 051 067), the Oslo Børs-listed E&P company that trades under ticker PEN, and shows Panoro Energy AS as the immediate parent of Panoro Tunisia Exploration AS (Norway, organisation number 995 739 879), which is in turn linked to an entity registered in Tunisia. These wider links have not been independently confirmed against an official filing within the scope of this review and are presented below as possible relationships rather than as verified corporate links. The structure is assessed as partial as of the dates stated.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Sfax Petroleum Corporation AS | Norway | 821293502 | Immediate parent | 100% (30,000 of 30,000 shares) | Active | 2026-08-02 |
Possible relationships (unverified)
Panoro Energy ASA (Norway, 994051067) — possible ultimate parent of the group per on-file linkage data; the ownership link between Panoro Energy ASA and Sfax Petroleum Corporation AS is not independently confirmed here. Panoro Tunisia Exploration AS (Norway, 995739879) — possible direct subsidiary of Panoro Energy AS per on-file linkage data; not independently confirmed. An entity styled Panoro Tunisia Exploration AS (Tunisia, TN 1223322L) — possible indirect subsidiary per on-file linkage data; not independently confirmed. Ownership percentages for all three relationships in this section are not disclosed in the sources reviewed.
Data availability
Corporate-linkage information for Panoro Energy AS is assessed as partial: the immediate parent relationship is verified and corroborated against Brønnøysundregistrene share-capital data, but wider group relationships (the ultimate listed parent and downstream subsidiaries) rely on internal linkage data that could not be independently corroborated against an official filing within the scope of this review.
Sources
Brønnøysundregistrene, enhetsregisteret records for organisation numbers 921000413, 821293502 and 994051067, https://data.brreg.no/enhetsregisteret/api/enheter/, retrieved 16 September 2026. Panoro Energy ASA official website, https://www.panoroenergy.com/, retrieved 16 September 2026. Zavia on-file corporate-linkage data.
Panoro Energy ASA
Norway
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Frequently Asked Questions
What is Panoro Energy AS?
Panoro Energy AS is a Norwegian private limited company (aksjeselskap) registered with the Brønnøysund Register Centre under organisation number 921 000 413. It functions as an investment and holding entity within the wider Panoro Energy corporate group and is classified under NACE code 06.100 (extraction of crude petroleum).
Is Panoro Energy AS the same company as Panoro Energy ASA?
No. Panoro Energy AS (organisation number 921 000 413) and Panoro Energy ASA (organisation number 994 051 067) are two separate Norwegian legal entities with different legal forms — AS (private limited company) and ASA (public limited company) respectively. Panoro Energy ASA is the entity listed on Oslo Børs under ticker PEN; Panoro Energy AS is a group subsidiary and is not itself listed.
What is Panoro Energy AS's organisation number?
921 000 413, as registered with Brønnøysundregistrene, Norway's official company register.
When was Panoro Energy AS incorporated?
It was founded on 4 June 2018 and entered into the Norwegian Register of Business Enterprises (Foretaksregisteret) on 14 June 2018, initially under the shelf-company name WR START UP 232 AS.
What was Panoro Energy AS's previous name?
WR START UP 232 AS, used from its registration on 14 June 2018 until it was renamed on 26 July 2018.
Where is Panoro Energy AS registered?
Its registered business address is c/o Advokatfirmaet BAHR AS, Tjuvholmen allé 16, 0252 Oslo, Norway.
Who owns Panoro Energy AS?
According to Zavia's on-file shareholder register data, Sfax Petroleum Corporation AS (organisation number 821 293 502) holds 100% of Panoro Energy AS's issued share capital (30,000 of 30,000 shares), a figure corroborated by Panoro Energy AS's registered share capital at Brønnøysundregistrene.
Who is the ultimate beneficial owner of Panoro Energy AS?
No verified ultimate beneficial owner has been identified. Sfax Petroleum Corporation AS sits within the wider Panoro Energy group, whose identifiable top-level entity, Panoro Energy ASA, is a publicly listed company with a dispersed shareholder base, meaning no single natural-person UBO can be established from public sources.
Who are the directors of Panoro Energy AS?
Brønnøysundregistrene's official role register shows one active board member, Qazi Muhammad Abdul Qadeer, serving as styrets leder (board chair). No managing director (daglig leder) is registered for the company.
Does Panoro Energy AS have a company secretary?
Norwegian company law does not use the 'company secretary' role, and none is registered for Panoro Energy AS at Brønnøysundregistrene. On-file data referencing a 'Secretary' for this entity could not be corroborated against the official Norwegian register and may relate to a different group entity.
Who audits Panoro Energy AS?
Ernst & Young AS (organisation number 976 389 387) is registered as Panoro Energy AS's approved auditor.
Who is Panoro Energy AS's accountant?
Azets Insight AS (organisation number 983 338 917) is registered as the company's approved external accountant (regnskapsfu{00f8}rer).
Is Panoro Energy AS part of a corporate group?
Yes. Its verified immediate parent is Sfax Petroleum Corporation AS. On-file linkage data further connects the structure to Panoro Energy ASA as the group's Oslo Børs-listed ultimate entity and to Panoro Tunisia Exploration AS as a downstream subsidiary, though these wider links are not independently verified in this review.
Does Panoro Energy AS operate oil and gas fields directly?
This has not been confirmed. Panoro Energy AS's registered NACE classification is extraction of crude petroleum, but its stated articles-of-association purpose is investment in other companies, and public group disclosures about operating assets in Gabon, Equatorial Guinea, Tunisia and South Africa relate to the wider Panoro group rather than being confirmed as this entity's own direct activity.
What is Panoro Energy AS's registry status?
Active. Brønnøysundregistrene does not record the company as bankrupt or in liquidation, and its most recent annual accounts on file cover the 2025 financial year.