Panorama Reef is a large circular offshore reef 8km east of Port Safaga with walls that drop sheer to over 200m. It sits in the open Red Sea, exposed to the full force of offshore currents, and the reward for those conditions is water of exceptional clarity and marine life density that the inshore sites rarely match.

The reef has several distinct faces, the north slopes to 30m before dropping as a wall, while the south and east sides offer vertical terrain with gorgonian fans in the 20–40m range and black coral at depth. Sharks are a regular feature: grey reefs and the occasional whitetip on the walls, hammerheads in the blue on the best days. Dolphins are often heard before they are seen. A site that operates well above the standard of a typical day trip and is best appreciated from a liveaboard with multiple dives.