Savannah will own an indirect share of c.70pc in the Chad-Cameroon export pipeline system
Chad’s Doba oil changes hands
UK independent Savannah Energy expands into Chad and Cameroon, as ExxonMobil and Petronas divest
AIM-listed independent Savannah Energy is purchasing the entire upstream and midstream portfolios of both ExxonMobil and Malaysia’s Petronas in Chad and Cameroon. The two simultaneous deals mean Savannah will own 75pc of the Doba oil project and an indirect share of around 70pc in the Chad-Cameroon export pipeline system—which also includes the Kome Kribi 1 floating storage and offloading facility—effective from 1 January 2021. The remaining 25pc stake in Doba is still held by Chad’s state oil company, SHT, while the rest of the transportation system is owned by affiliates of SHT and Chad’s government, and Cameroonian NOC SNH. ExxonMobil’s and Petronas’ shares had comprised 40pc and 35pc of
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
