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    <label xlink:label="label_PEN_penAdjustementsForLossGainOnCommodityHedges_Standard" id="PEN_penAdjustementsForLossGainOnCommodityHedges_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Loss/(gain) on commodity hedges</label>
    <label xlink:label="label_PEN_penStateShareOfProfitOil_Standard" id="PEN_penStateShareOfProfitOil_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">State share of profit oil</label>
    <label xlink:label="label_PEN_ifrs-fullCashFlowsFromUsedInOperatingActivities_Total" id="PEN_ifrs-fullCashFlowsFromUsedInOperatingActivities_Total" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Net cash (out)/inflow from operations</label>
    <label xlink:label="label_PEN_ifrs-fullCashFlowsFromUsedInInvestingActivities_Total" id="PEN_ifrs-fullCashFlowsFromUsedInInvestingActivities_Total" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Net cash (out)/inflow from investing activities</label>
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    <label xlink:label="label_PEN_penOilRevenueAdvancesRepaid_Standard" id="PEN_penOilRevenueAdvancesRepaid_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Oil revenue advances repaid</label>
    <label xlink:label="label_PEN_ifrs-fullCashFlowsFromUsedInFinancingActivities_Total" id="PEN_ifrs-fullCashFlowsFromUsedInFinancingActivities_Total" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Net cash (out)/inflow from financing activities</label>
    <label xlink:label="label_PEN_ifrs-fullIncreaseDecreaseInCashAndCashEquivalents_Total" id="PEN_ifrs-fullIncreaseDecreaseInCashAndCashEquivalents_Total" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Change in cash and cash equivalents during the period</label>
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